Internal controls over cash involve daily cash receipts and money received in the mail from customers.

Question

Quizplus · Accepted Answer

Internal controls over cash include processes for receiving and recording daily cash receipts, as well as procedures for handling money received in the mail from customers. These controls help to ensure that all cash received is accurately recorded and accounted for, and that the risk of theft or loss of cash is minimized.

Internal Controls Over Cash Involve Daily Cash Receipts and Money