The following set of items describes activities completed by a company in collecting cash for merchandise sales.For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. Cash register tapes are picked up daily by an employee from the accounting department.
A) Adheres to sound internal control procedures
B) Violates sound internal control procedures
C) Neither strengthens nor violates internal control

Question

Quizplus · Accepted Answer

Picking up cash register tapes daily from the accounting department ensures that there is timely recording of sales and cash collections. This adheres to sound internal control procedures.

The Following Set of Items Describes Activities Completed by a Company