What is an appropriate control to have in place to safeguard cash during the cash disbursement Lockbox

Fantastic news! We've Found the answer you've been seeking!

Question:

What is an appropriate control to have in place to safeguard cash during the cash disbursement Lockbox receipts are compared to Adjustments to the general ledger are only made by a member of management Checks prenumbered, the sequence is accounted for and unissued checks are and kept in a Cash receipts are reconciled to the general ledger postings daily

Posted Date: May 18, 2024 03:01 PM

See More Questions

What are some Marketing Strategies for Delivering Objectives Polestar (Car company) has used or using?
If the primary purpose of advertising is to sell, are there any message execution techniques that seem best predisposed to this purpose? These days, there are some extremely creative ads fighting for...
Suppose that it takes tensile forces of magnitude F to produce a given strain L / L in a steel wire of cross sectional area A. If you had two such wires side by side and stretched them...
Although the largest errors in calculating the height of a packed column are errors in (1) mass transfer coefficients and (2) VLE data, calculation errors can also be significant because calculation...
Felix & Co. reports the following information about its sales and cost of sales. Draw an estimated line of cost behavior using a scatter diagram, and compute fixed costs and variable costs per unit...
I need help with an essay in relation to managing international business
set 5 / 14 Previous Problem Problem List set 5: Problem 14 (1 point) The differential operator (D+4) is supposed to annihilate the function e-4, we will check that: (D)(xe-4) = (D+4)(xe-4)= D((D+ 4)...
The Time Value of Money"Please respond to the following: Examine the concept of the time value of money among corporate managers. Suggest two (2) ways in which time value of money can assist...
Larry, lan, Sarah, and Sergio have all been invited to a dinner party. They arrive randomly and each person arrives at a different time. a. In how many ways can they arrive? b. In how many ways can...
On January 1, 2023, Bertrand, Incorporated, paid $86,900 for a 40 percent interest in Chestnut Corporation's common stock. This investee had assets with a book value of $229,500 and liabilities of...
Imperfectly competitive markets offer better use of resources (comparative advantage exists) than perfect competition. Can you think of the reason(s) why? [HINT: economies of scale]
BSF Co., which produces and sells skiing equipment, is financed as follows: Bonds payable, 10% (issued at face amount) $550,000 Preferred 1% stock, $10 par 550,000 Common stock, $25 par 550,000...
What is a rough cost comparison between a standard electric battery recharge tuk-tuk and the solar-powered tuk-tuk you have suggested? How does this change if assuming a 10% cost of capital on the...
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
What are the advantages and disadvantages of continuous improvement performance reports? Why do you think some companies adopt this philosophy, but others do not?
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the...
What are the advantages and disadvantages of using RFID technology to implement the specific identification method of accounting for inventory?

What is an appropriate control to have in place to safeguard cash during the cash disbursement Lockbox

Question:

Expert Answer:

Students also viewed these accounting questions