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.

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

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting A Contemporary Approach

ISBN: 9781260780352

5th Edition

Authors: David Haddock, John Price, Michael Farina

Question Posted: