Which of the following is not an appropriate internal control for cash receipts over the counter? A. The cash drawer opens after the store clerk enters a transaction. B. The store clerk deposits the cash in the bank. C. At the end of the day, the manager proves the cash by comparing the cash in the drawer against the machine's record of cash sales. D. A receipt is issued for each transaction to ensure that each sale is recorded.

Which of the following is not an appropriate internal control for cash receipts over the counter? A. The cash drawer opens after the store clerk enters a transaction. B. The store clerk deposits the cash in the bank. C. At the end of the day, the manager proves the cash by comparing the cash in the drawer against the machine's record of cash sales. D. A receipt is issued for each transaction to ensure that each sale is recorded.

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

Which of the following is not an appropriate internal control for cash receipts over the counter?

The cash drawer opens after the store clerk enters a transaction.

The store clerk deposits the cash in the bank.

At the end of the day, the manager proves the cash by comparing the cash in the drawer against the machine's record of cash sales.

A receipt is issued for each transaction to ensure that each sale is recorded.

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