Which of the following is not an example of good internal control over cash receipts? a. Cash
Question:
Which of the following is not an example of good internal control over cash receipts?
a. Cash receipts should be deposited in the bank promptly.
b. Cash receipts should be kept in a cash register, a locked cash drawer, or a safe while they are on the premises.
c. The same individual who handles and records cash receipts should prepare the bank reconciliation.
d. Cash receipts should be entered in the accounting records promptly.
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The correct answer is c The same individual who handles and records cash ...View the full answer
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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