Solved

Match the Appropriate Cash Receipts Procedure Described Below with

Question 227

Matching

Match the appropriate cash receipts procedure described below with the internal control principle.

Premises:
Only designated personnel are authorized to handle cash receipts.
Different individuals receive cash and record cash receipts.
Use remittance advice and cash register tapes.
Store cash in safes and bank vaults.
Treasurer compares total receipts to bank deposits daily.
Bonding of employees that handle cash.
Responses:
Documentation procedures
Establishment of responsibility
Independent internal verification
Human resource controls
Physical controls
Segregation of duties

Correct Answer:

Only designated personnel are authorized to handle cash receipts.
Different individuals receive cash and record cash receipts.
Use remittance advice and cash register tapes.
Store cash in safes and bank vaults.
Treasurer compares total receipts to bank deposits daily.
Bonding of employees that handle cash.
Related Questions

Q220: Internal control over cash disbursements is more

Q221: Identify the three activities that pertain to

Q222: The preparation of a bank reconciliation is

Q223: Match the items below

Q224: Listed below are items that may be

Q225: Indicate how each of the items listed

Q226: Match the appropriate cash disbursements procedure

Q228: Listed below are seven errors or problems

Q229: Below are descriptions of internal control problems.

Q230: Match the appropriate description below with each

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents