The monthly bank statement should be received and reconciled by the employee who deposits cash receipts and writes the checks.

Name: The monthly bank statement should be received and reconciled by the employee who deposits cash receipts and writes the checks.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The monthly bank statement should be reconciled by someone independent of the cash handling and check writing process to ensure proper internal controls and prevent fraud.

The Monthly Bank Statement Should Be Received and Reconciled by the Employee