Indicate whether each of the following statements regarding internal controls is true or false.
-Cash receipts should be deposited in a bank on a periodic basis such as once a week

Name: Indicate whether each of the following statements regarding internal controls is true or false. -Cash receipts should be deposited in a bank on a periodic basis such as once a week
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Question

Quizplus · Accepted Answer

Cash receipts should be deposited in a bank daily to minimize the risk of theft or loss and to ensure accurate financial records.

Indicate Whether Each of the Following Statements Regarding Internal Controls