Julia's Cookies has identified the following cash deposit control activity risk: "Checks received in the mail that are not deposited intact may result in missing cash." Choose from the list of control activities below one of the appropriate control activities for this risk statement.

Question

Quizplus · Accepted Answer

Implementing electronic funds transfer directly to the company's bank account or a lockbox system addresses the risk of checks received in the mail not being deposited intact by minimizing the handling of physical checks, thereby reducing the opportunity for checks to go missing.

Julia's Cookies Has Identified the Following Cash Deposit Control Activity