Tene Ltd. has the following internal controls over cash receipts. Identify the control activity that is applicable

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Tene Ltd. has the following internal controls over cash receipts. Identify the control activity that is applicable to each procedure.

1. All over-the-counter receipts are recorded on cash registers.

2. All cashiers are bonded.

3. Daily cash counts are performed by the accounting supervisor.

4. The duties of receiving cash, recording cash, and maintaining custody of cash are assigned to different individuals.

5. Only cashiers may operate cash registers.

6. All cash is deposited intact in the bank account every day.

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Related Book For  answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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