Multiple Choice
Internal control over cash receipts will include all of the following EXCEPT
A) only designated personnel are authorized to handle cash receipts.
B) only one authorized person will receive the cash and record the cash receipts.
C) use of cash registers.
D) employees are required to take vacation.
Correct Answer:
Verified
Correct Answer:
Verified
Q68: Sales using a retailer's own credit card
Q69: Responsibility for authorizing and approving transactions must
Q71: External auditors may be employees of the
Q72: Cash is listed in the current asset
Q74: An independent check of performance would be
Q75: The control activity related to NOT having
Q76: Joe Sanji purchases books from Canada Books
Q77: A company maintains the asset account, Cash
Q78: Monitoring involves identifying the control activities and
Q184: A debit balance in Cash Over and