Question: 17. Checks received through the mail should a immediately be endorsed For Deposit Only. b. be sent to the accounts receivable subsidiary ledger clerk for

 17. Checks received through the mail should a immediately be endorsed

17. Checks received through the mail should a immediately be endorsed "For Deposit Only." b. be sent to the accounts receivable subsidiary ledger clerk for immediate posting to the customer's account. C. be cashed at the bank as soon as possible. d. be "rung up" on a cash register immediately A company stamps checks received in the mail with the words "For Deposit Only". This endorsement is called an) a blank endorsement b. rubber stamp. c. restrictive endorsement. d. operational endorsement. Blank checks a should be safeguarded. b. should be pre-signed. C. do not need to be safeguarded since they must be signed to be valid. d. should not be prenumbered. A voucher system is a series of prescribed control procedures a. to check the credit worthiness of customers. b. designed to assure that disbursements by check are proper. c. which eliminates the need for a sales journal. d. specifically designed for small firms who may not have checking accounts. 20

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