Internal control over cash receipts will include all of the following EXCEPT
A) only designated personnel are authorized to handle cash receipts.
B) only one authorized person will receive the cash and record the cash receipts.
C) use of cash registers.
D) employees are required to take vacation.

Question

Quizplus · Accepted Answer

Having only one authorized person to both receive cash and record cash receipts contradicts the principle of segregation of duties, which is a key component of internal control systems. This principle aims to reduce the risk of errors or fraud by dividing responsibilities among different individuals.

Internal Control Over Cash Receipts Will Include All of the Following