menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Auditing and Assurance Services Study Set 1
  4. Exam
    Exam 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  5. Question
    Who Is Generally Responsible for Opening Receipts When a Company
Solved

Who Is Generally Responsible for Opening Receipts When a Company

Question 43

Question 43

Multiple Choice

Who is generally responsible for opening receipts when a company uses a lockbox to speed the handling of cash receipts?


A) Company personnel
B) Temporary employees in the town where the lockbox is located
C) Bank employees
D) Company controller

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q38: The document that the accounting staff will

Q40: In determining the level of audit efficiency,

Q42: Management's assertions for sales and collection activities

Q44: A document prepared to initiate shipment of

Q45: The auditor's objectives for the sales and

Q46: An audit procedure that compares the name,

Q47: Which one of the following best describes

Q48: For a firm that practices good internal

Q120: In many audits, no substantive tests of

Q133: When auditors evaluate sales returns and allowances,

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines