Which of the following is not related to the segregation of duties for cash received in person?
A)Cashiers are responsible for the collection of cash and issuing a receipt at the point of sale.
B)A supervisor is responsible for collecting the cash at the end of each cashier's shift and depositing it in the bank.
C)Members of the accounting department are responsible for ensuring that the receipts from cash sales are properly recorded in the accounting system.
D)Members of the accounting department count the cash collected and deposit it in the bank.

Question

Quizplus · Accepted Answer

To properly segregate duties involving cash receipts,specific responsibilities are assigned to employees.Cashiers collect cash and issue a receipt at the point of sale.Supervisors take custody of the cash at the end of each cashier's shift and deposit it in the bank.Accounting staff then ensure the receipts from cash sales are properly recorded in the accounting system.Segregating these duties ensures that those who handle the cash (cashiers and supervisors)do not have access to those who record it (the accounting staff).If this segregation of duties did not exist,employees could steal the cash and cover up the theft by changing the accounting records.

Which of the Following Is Not Related to the Segregation