Which of the following is a key element of internal control over cash receipts?
A) Making all payments by check
B) Authorize and sign checks only after approval
C) Reconcile the bank account
D) Immediate counting of cash in the cash register when a new cashier begins working

Question

Quizplus · Accepted Answer

Immediate counting of cash in the cash register when a new cashier begins working is a key element of internal control over cash receipts. It ensures accountability and minimizes the risk of cash mishandling or theft.

Which of the Following Is a Key Element of Internal