In the cash receipts process, the control plan of immediately endorsing incoming checks is designed to achieve the control goal of:
A) ensure the timely deposit of cash receipts
B) ensure security of the cash asset
C) ensure cash receipts input accuracy
D) ensure cash receipts input completeness

Question

Quizplus · Accepted Answer

Immediately endorsing incoming checks is primarily aimed at ensuring the security of the cash asset by limiting the possibility of unauthorized use or misappropriation of the checks before they are deposited into the bank.

In the Cash Receipts Process, the Control Plan of Immediately