Identify each of the following statements as either true or false. a. A guideline for safeguarding cash
Question:
Identify each of the following statements as either true or false.
a. A guideline for safeguarding cash is that all cash receipts be deposited monthly or yearly.
b. A voucher system of control is a control system exclusively for cash receipts.
c. A guideline for safeguarding cash is to separate the duties of those who have custody of cash from those who keep cash records.
d. Separation of duties eliminates the possibility of collusion to steal an asset and hide the theft from the records.
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a False b False c True d True a Its not necessarily a guide...View the full answer
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Related Book For 
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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