Allowing only designated personnel to handle cash receipts is an example of

Question

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The establishment of responsibility involves assigning specific duties to certain individuals and ensuring they are held accountable for carrying out those duties. Allowing only designated personnel to handle cash receipts is an example of establishing responsibility for cash handling, which helps to prevent fraud and errors. Segregation of duties involves dividing responsibilities among different individuals to prevent any one person from having too much control over a process. Documentation procedures involve creating and maintaining records to provide evidence of transactions and activities. Independent internal verification involves checking and verifying information with independent sources to ensure accuracy and reliability. While these other options may also contribute to an effective internal control system, the best choice for this specific scenario is A.

Allowing Only Designated Personnel to Handle Cash Receipts Is an Example