When cash is received from a remote source,the accounting department then compares the total on the cash receipts list with the stamped deposit slip received from the bank.Which internal control principle is being met with this procedure?
A)Document procedures
B)Independently verify
C)Restrict access
D)Segregate duties

Question

Quizplus · Accepted Answer

This comparison serves to independently verify that all cash received by mail was deposited in the bank.

When Cash Is Received from a Remote Source,the Accounting Department