Which of the following controls would be most successful in mitigating the theft of customer checks received in the mail?
A) Custody of receipts by the accounts receivable manager.
B) Restricted endorsements placed on the check as soon as it arrives.
C) Weekly deposits to a secure bank.
D) Reconciliation of bank accounts each month.

Question

Quizplus · Accepted Answer

Restricted endorsements prevent the unauthorized negotiation of checks received in the mail. Custody of receipts by the accounts receivable manager, weekly deposits to a secure bank, and reconciliation of bank accounts are all important controls, but they may not specifically address the risk of theft of customer checks received in the mail.

Which of the Following Controls Would Be Most Successful in Mitigating