1. Suppose one person opens the cash receipts (checks received in the mail), makes the bank deposits,...

Question:

1. Suppose one person opens the cash receipts (checks received in the mail), makes the bank deposits, and keeps the accounts receivable records. What potential problems could arise from the lack of separation of duties?
2. Why would a store offer a free purchase to a customer who does not receive a receipt?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: