Sycamore Company has the following internal control procedures over cash receipts. Identify the internal control principle that

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Sycamore Company has the following internal control procedures over cash receipts.

Identify the internal control principle that is applicable to each procedure.

1. All over-the-counter receipts are registered on cash registers.

2. All cashiers are bonded.

3. Daily cash counts are made by cashier department supervisors.

4. The duties of receiving cash, recording cash, and custody of cash are assigned to different individuals.

5. Only cashiers may operate cash registers. (SO 7)

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Jun 10, 2024 01:14 AM

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Sycamore Company has the following internal control procedures over cash receipts. Identify the internal control principle that

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Financial Accounting Text Only

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