Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following procedures would weaken the control over cash receipts that arrive through the mail? Group of answer choices The cashier should not

Which of the following procedures would weaken the control over cash receipts that arrive through the mail?
Group of answer choices
The cashier should not also be the record keeper who records the amounts received in the accounting records.
After the mail is opened, a list (in triplicate) of the money received is prepared with a record of the sender's name, the amount, and an explanation of why the money is sent.
All of the choices are correct responses.
The bank reconciliation is prepared by a person who does not handle cash or record cash receipts.
For safety, only one person should open the mail and that person should immediately deposit the cash received in the bank.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

11:00 1 LTE 11:00 1 LTE

Answered: 1 week ago