Indicate whether each of the following statements about cash receipts is true or false.
-A business should minimize the amount of cash that it keeps on hand

Question

Quizplus · Accepted Answer

Keeping too much cash on hand can be risky and can increase the potential for theft or loss. It is important for a business to have a proper cash management system to ensure that cash is secure and properly accounted for, but keeping excess amounts of cash on hand is not necessary.

Indicate Whether Each of the Following Statements About Cash Receipts