Which of the following would NOT represent good controls over cash receipts?
A)Record all cash receipts as soon as possible.
B)The employee that receives cash and checks should also deposit them in the bank.
C)Open mail each day and make a list of checks received with the amount and payer's name.

Question

Quizplus · Accepted Answer

Having the same employee responsible for receiving cash and checks also deposit them in the bank can lead to a lack of accountability and increase the risk of theft or fraud. Good controls over cash receipts typically involve separation of duties to ensure checks and balances.

Which of the Following Would NOT Represent Good Controls Over