Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Miramichi Company has the following internal controls over cash receipts. Identify the control activity that is applicable to each of the following. 1. Human resource
Miramichi Company has the following internal controls over cash receipts. Identify the control activity that is applicable to each of the following. 1. Human resource controls 2. Physical and IT controls 3. Physical and IT controls The company conducts thorough background checks on all cashiers when they are hired. All sales must be entered into the cash register through a scanner and point- of-sale software. Surprise cash counts are made by the department supervisors. The duties of receiving cash, recording cash, and maintaining custody of cash are assigned to different individuals. At the end of his or her shift, the cashier ensures there are receipts on hand for all debit or credit card sales. Each cashier uses a different cash register and uses a separate password. 4. Segregation of duties 5. 6
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started