The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Multiple Choice A Making daily cash deposits B Frequent preparation of bank reconciliations C
The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Multiple Choice A Making daily cash deposits B Frequent preparation of bank reconciliations C
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner?
Multiple Choice
A Making daily cash deposits
B Frequent preparation of bank reconciliations
C Separation of cash payment from cash disbursement function
D Ensuring all cash disbursements are tracked by making payments by cheque
E Performing external audit
Transcribed Image Text:The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as
processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank, pay suppliers, and reconcile the company bank account bank reconciliations. What internal
cash control practice
being overlooked by the owner?
Multiple Choice
Making daily cash deposits
Frequent preparation of bank reconciliations
Separation of cash payment from cash disbursement function
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