Which of the following represent good internal control procedures concerning cash receipts?
A) Cash should be deposited only at the end of the month.
B) Cash receipts should be posted to the Accounts Receivable account at the end of the month.
C) Designate a specific employee to open mail, handle cash, and record the cash.
D) Endorse checks immediately upon receipt with the stamp, "For Deposit Only".
Correct Answer:
Verified
Q27: Which of the following would require a
Q28: At the end of the day, $443
Q29: Which of the following would be subtracted
Q30: At the end of fiscal year, if
Q31: The entry to reimburse the Petty Cash
Q33: Two bank statement amounts that require journal
Q34: Which of the following would be added
Q35: Which of the following represents good internal
Q36: Which of the following statements is true
Q37: A Petty Cash Fund established with a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents