Customer payments are sometimes received one day and deposited into the company's bank one or two days
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Question:
Customer payments are sometimes received one day and deposited into the company's bank one or two days later. In this discussion you will discuss how a company addresses internal controls in particular to protect cash receipts:
Discuss what internal controls are and why does a company benefit from using them?
What are some internal control processes that could be used to safeguard the payments until they are deposited at the bank?
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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