Which control plan for the cash receipts function has as its primary control goal to ensure security of resources?
A) reconcile bank account regularly.
B) enter cash receipts close to where cash is received.
C) immediately endorse incoming checks.
D) one-to-one checking of deposit slips and checks.

Question

Quizplus · Accepted Answer

Immediately endorsing incoming checks ensures that the checks are only deposited into the company's bank account and not diverted elsewhere, thereby ensuring the security of resources. The other options, while important controls, do not directly address the security of resources.

Which Control Plan for the Cash Receipts Function Has as Its