Multiple Choice
Which of the following should be performed by the persons opening the mail and recording payments?
A) Adding a restrictive endorsement on all checks.
B) Entering payment information into customer accounts.
C) Preparing the deposit slip and the delivery of the checks to the bank.
D) Segregating all payments made on accounts listed as past due.
Correct Answer:

Verified
Correct Answer:
Verified
Q52: Another name for employee fraud and embezzlement
Q53: During an audit of cash,the auditor is
Q54: In the audit of cash,the auditor obtains
Q55: An internal control questionnaire for evaluating the
Q56: Employee fraud generally involves people at the
Q58: Fidelity bonds are used to prevent embezzlement.
Q59: It is always good control to have
Q60: To provide assurance that each voucher is
Q61: The characteristics of people who commit the
Q62: One of the main requirements under GAAS