Which of the following internal control activities most likely would deter lapping of collections from customers? a.

Question:

Which of the following internal control activities most likely would deter lapping of collections from customers?
a. Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash summaries.
b. Authorization of write- offs of uncollectable accounts by a supervisor independent of credit approval.
c. Separation of duties between receiving cash and posting the ledger.
d. Supervisory comparison of the daily cash summary with the sum of the cash receipts journal entries.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...