Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that
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Question:
Jolson Company has the following internal control procedures over cash receipts.
Identify the internal control principle that is applicable to each procedure.
(a) | All over-the-counter receipts are entered in cash registers. | Select the principle of internal control | ||
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(b) | All cashiers are bonded. | Select the principle of internal control | ||
(c) | Daily cash counts are made by cashier department supervisors. | Select the principle of internal control | ||
(d) | The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. | Select the principle of internal control | ||
(e) | Only cashiers may operate cash registers. | Select the principle of internal control |
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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