The primary goal of internal controls for cash receipts is to ensure that the business pays only for properly authorized transactions.

Question

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The primary goal of internal controls for cash receipts is to ensure that all cash received is properly recorded and deposited, and that any discrepancies or errors are promptly identified and corrected. This helps to prevent fraudulent or unauthorized activity and ensures the accuracy and reliability of financial records. While ensuring proper authorization is important, it is not the primary goal of internal controls for cash receipts.

The Primary Goal of Internal Controls for Cash Receipts Is