When an entity receives mail receipts, it is preferable to have at least two clerks responsible for opening the mail. This control
A) ensures both clerks are punctual.
B) reduces the risk of cash receipts received in the mail being misappropriated.
C) ensures receipts are processed to the appropriate general ledger account.
D) ensures all cheques received are accompanied by a remittance advice.

Question

Quizplus · Accepted Answer

Having two clerks responsible for opening the mail reduces the risk of cash receipts being misappropriated. This control helps to ensure that there is proper segregation of duties and that no individual has sole access to the cash receipts.

When an Entity Receives Mail Receipts, It Is Preferable to Have