Why are payments through checks and/or electronic fund transfers (EFTs) the best method for expenses that are not incidental?
a. Checks and EFTs are quicker to process because they have simpler methods of internal control.
b. Internal control is more effective when checks or EFTs are used.
c. Cash payments require extra accounting costs in submitting appropriate tax payments to the government.
d. Insurance companies charge more to companies that utilize cash payments because of their greater incidences of fraud.