1- For establishment of responsibility, segregation of duties, and documentation of procedures, describe a real life business example of a cash receipt control. Explain how the cash receipts are being protected by each cash receipt control. (Review page 347) 100+

2- Describe the Ch8 accounts receivable turnover and average collection period ratios (Review pages 464 to 466). Explain the importance of each ratio and how each ratio assists the investor in evaluating a companys performance. 100+