The internal control of cash receipts related to adequate records and documents would include which of the following?
A)Cash receipts listings prepared on a daily basis and reconciled to supporting documentation from the bank deposit
B)Bank deposit receipts should be retained and filed chronologically.
C)Detailed customer accounts should also be maintained and reconciled with customer statements regularly.
D)All of the above

Question

The internal control of cash receipts related to adequate records and documents would include which of the following?
A)Cash receipts listings prepared on a daily basis and reconciled to supporting documentation from the bank deposit
B)Bank deposit receipts should be retained and filed chronologically.
C)Detailed customer accounts should also be maintained and reconciled with customer statements regularly. 
D)All of the above

Quizplus · Accepted Answer

All of the choices listed are necessary for maintaining adequate records and documents for internal control of cash receipts. Cash receipts listings reconcile the deposited amount with supporting documentation, bank deposit receipts provide evidence of the deposit, and detailed customer accounts help ensure accuracy and completeness of the cash receipts.

The Internal Control of Cash Receipts Related to Adequate Records