Accounting Information Systems
11th Edition
ISBN: 9780357156032
Author: Ulric J. Gelinas; Richard B. Dull; Patrick Wheeler
Publisher: Cengage Limited
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Chapter 13, Problem 4RQ
What are the fundamental responsibilities of the accounts payable department and the cashier?
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Why should the person in charge of cash receipts not also be in charge of keeping accounts receivable records? Explain.
Why should cash receipts and sales to credit clients be documented and reported immediately?
Which of the following is true? a. The cash disbursement function is part of accounts payable. b. Cash disbursements is an independent accounting function. c. Cash disbursements is a treasury function. d. The cash disbursement function is part of the general ledger department.
Chapter 13 Solutions
Accounting Information Systems
Ch. 13 - Prob. 1RQCh. 13 - What primary functions does the AP/CD process...Ch. 13 - Prob. 3RQCh. 13 - What are the fundamental responsibilities of the...Ch. 13 - Prob. 5RQCh. 13 - Prob. 6RQCh. 13 - Prob. 7RQCh. 13 - Prob. 8RQCh. 13 - How does EDI improve the effectiveness and...Ch. 13 - What is EIPP? How does it improve the efficiency...
Ch. 13 - What are the two operations process...Ch. 13 - Prob. 12RQCh. 13 - Prob. 13RQCh. 13 - Prob. 14RQCh. 13 - Prob. 1DQCh. 13 - This chapter discusses both fraud and...Ch. 13 - Prob. 3DQCh. 13 - Prob. 4DQCh. 13 - Prob. 5DQCh. 13 - Prob. 6DQCh. 13 - Prob. 1SPCh. 13 - Prob. 2SPCh. 13 - Prob. 3SPCh. 13 - Prob. 4SPCh. 13 - Prob. 5SPCh. 13 - Prob. 6SPCh. 13 - Prob. 4PCh. 13 - Our narrative and DFDs are created assuming that...Ch. 13 - Prob. 6PCh. 13 - Prob. 7P
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Similar questions
- What steps are followed in posting cash receipts from the general journal to the accounts receivable ledger?arrow_forwardWhich of the following is correct? Cash disbursement function is for the accounts payable. Cash disbursements are an independent accounting function. Cash disbursements are a treasury function. Cash disbursement function is for the general ledger department.arrow_forwardAn audit program relates to the cash, sales and receivables cycles and accounts. Discuss audit procedures for the audit of accounts receivable. How does this apply to your chosen organization?arrow_forward
- What are some indicators that a company is doing an effective job at managing accounts receivable?arrow_forwardWhat are the steps in approach to internal control over cash receipts that utilizes separation of duties?arrow_forwardDefine what is meant by internal control and describe some key elements of an internal control system for cash receipts and disbursements.arrow_forward
- Which of the following statements are true regarding the control of cash receipts and cash payments? Custody over cash should be separate from the recordkeeping of cash.arrow_forwardDefine the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.arrow_forwardIdentify and explain the procedures that are important to the examination of bank’s accounts.arrow_forward
- Which one of the following documents is used in the control of cash receipts?a. Purchase requisitionsb. Receiving reportsc. Canceled checks from customersd. Bank deposit slipsarrow_forwardAs part of a strong internal control system, which of the following accounting duties needsto be separated from cash handling?a. Record keepingb. Filingc. Transaction approvald. Both a and c need to be separated from cash handling.arrow_forwardWhat are the internal controls that should be in place to ensure the accuracy and security of cash and cash equivalents?arrow_forward
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