Matching
Match the appropriate cash receipts procedure described below with the internal control principle.
Premises:
Only designated personnel are authorized to handle cash receipts.
Different individuals receive cash and record cash receipts.
Use remittance advice and cash register tapes.
Store cash in safes and bank vaults.
Treasurer compares total receipts to bank deposits daily.
Bonding of employees that handle cash.
Responses:
Documentation procedures
Establishment of responsibility
Independent internal verification
Human resource controls
Physical controls
Segregation of duties
Correct Answer:
Premises:
Responses:
Only designated personnel are authorized to handle cash receipts.
Different individuals receive cash and record cash receipts.
Use remittance advice and cash register tapes.
Store cash in safes and bank vaults.
Treasurer compares total receipts to bank deposits daily.
Bonding of employees that handle cash.
Premises:
Only designated personnel are authorized to handle cash receipts.
Different individuals receive cash and record cash receipts.
Use remittance advice and cash register tapes.
Store cash in safes and bank vaults.
Treasurer compares total receipts to bank deposits daily.
Bonding of employees that handle cash.
Responses:
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