Question: BE 7 . 5 ( L O 2 2 ) , C Jolson Company has the following internal control procedures over cash receipts. Identify the
BE C Jolson Company has the following internal control procedures over cash receipts. Identify the internal
control principle that is applicable to each procedure.
a All overthecounter receipts are entered in cash registers.
b All cashiers are bonded.
c Daily cash counts are made by cashier department supervisors.
d The duties of receiving cash, recording cash, and custody of cash are assigned to different individuals.
e Only cashiers may operate cash registers.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Here is the identification of internal control principles applicable to each procedure listed in the ... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
