Internal control procedures for cash receipts do notrequire that:Multiple ChoiceAll cash collections for sales are receivedimmediately upon making the sales.Clerks having access to cash in a cash registershould not have access to the register tape or file.Handling of cash is kept separate from itsrecordkeeping.Cash sales should be recorded on a cash register atthe time of each sale.An employee with no access to cash receipts shouldcompare the total cash recorded by the register withthe record of cash receipts reported by the cashier.

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nternal control procedures for cash receipts do not equire that:

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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Question

Internal control procedures for cash receipts do not
require that:
Multiple Choice
All cash collections for sales are received
immediately upon making the sales.
Clerks having access to cash in a cash register
should not have access to the register tape or file.
Handling of cash is kept separate from its
recordkeeping.
Cash sales should be recorded on a cash register at
the time of each sale.
An employee with no access to cash receipts should
compare the total cash recorded by the register with
the record of cash receipts reported by the cashier.

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