Multiple Choice
An example of good internal control over Accounts Receivable is:
A) the employee who handles the daily cash receipts also records Accounts Receivable transactions.
B) the employee who opens the mail is also in charge of recording Accounts Receivable.
C) there are separate employees for cash-handling and cash-accounting duties.
D) All of the above are examples of good internal controls.
Correct Answer:

Verified
Correct Answer:
Verified
Q82: Which of the following situations would cause
Q83: A petty cash fund is established by
Q84: Cypress Co. has given you the following
Q85: Aspen Inc. has a petty cash fund
Q86: After a bank reconciliation is prepared, journal
Q88: The end of period adjusting entry for
Q89: Gallego & Co. reported sales of $515,000
Q90: Using a 360-day year, the maturity value
Q91: The entity to whom the maker promises
Q92: The total of cash in the petty