When processing and recording cash receipts, an important fact to consider is:
A)the most important concern is depositing cash at least twice daily.
B)the most important concern is the possibility of theft.
C)theft can occur only after the receipts are entered in the records.
D)it the customer fails to include a remittance advice, the check should be returned to the customer.

Question

Quizplus · Accepted Answer

While it is important to deposit cash at regular intervals and have procedures in place to prevent theft, the possibility of theft is a crucial factor to consider when processing and recording cash receipts. It is important to have controls in place to mitigate the risk of dishonest employees, fraudulent activities, or robbery. Therefore, option B is the best choice.

When Processing and Recording Cash Receipts, an Important Fact to Consider