Which of the following documents is used in the control of cash receipts?
A)Purchase requisitions
B)Receiving reports
C)Canceled checks from customers
D)Bank deposit slips

Question

Quizplus · Accepted Answer

Bank deposit slips are used to document cash receipts as they allow the business to record the total amount of money deposited into their bank account, as well as the sources of the cash. This provides a useful audit trail for the control of cash receipts. Purchase requisitions are used to request goods or services, receiving reports are used to document goods received from suppliers, and canceled checks from customers are not typically used in the control of cash receipts.

Which of the Following Documents Is Used in the Control