Identify the internal control principles applicable to cash receipts. BE7.5 (LO 2), C Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each proced a. All over-the-counter receipts are entered in cash registers. b. All cashiers are bonded. c. Daily cash counts are made by cashier department supervisors. d. The duties of receiving cash, recording cash, and custody of cash are assigned to different individuals. e. Only cashiers may operate cash registers.

Identify the internal control principles applicable to cash receipts. BE7.5 (LO 2), C Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each proced a. All over-the-counter receipts are entered in cash registers. b. All cashiers are bonded. c. Daily cash counts are made by cashier department supervisors. d. The duties of receiving cash, recording cash, and custody of cash are assigned to different individuals. e. Only cashiers may operate cash registers.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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