Cash receipt activities to the internal control principle

Assignment Help Financial Accounting

Reference no: EM13826920

Match each of the following cash receipt activities to the internal control principle to which it best relates. Enter the appropriate letter in the space provided.

1. A list of checks received in the mail is prepared.

2. Total cash receipts are compared to the amount on the bank deposit slip.

3. A password is required to open the cash register.

4. Price changes at the checkout require a manager’s approval.

5. Cashiers are required to count the cash in their register at the beginning and end of each shift.

A. Establish responsibility B. Segregate duties C. Restrict access D. Document procedures E. Independently verify

Reference no: EM13826920

Questions Cloud

Purchase discounts using perpetual inventory system : Months of January and February, Axe Corporation purchased goods from three sup- sequence of events was as follows: Purchased goods for $1,200 from Green with terms 2/10, n/30. Purchased goods from Munoz for $900 with terms 2/10, n/30. Paid Green in f..

Consider a sequence of bernoulli trials : Consider a sequence of Bernoulli trials X1, X2, X3,..., when Xn =1 or 0. Assume Pr{Xn=1 l X1, X2, ..., X(n-1)} >= alpha > 0, n=1,2,...Prove that :a) Pr{Xn =1 for some n} = 1

Discusses about a condition where the couple desires : Michelle and Ken Dunn, both in their mid-20s, have been married for 4 years and have two preschool-age children. Ken has an accounting degree and is employed as a cost accountant at an annual salary of $62,000.

Trace the lives of jesus and mohammed historically : Compare and contrast the lives of Jesus and Mohammed in relation to each respective religion. Points to remember. Trace the lives of Jesus and Mohammed historically

Cash receipt activities to the internal control principle : Match each of the following cash receipt activities to the internal control principle to which it best relates. Enter the appropriate letter in the space provided. A list of checks received in the mail is prepared. Total cash receipts are compared to..

Produce a system sequence diagram consistent : Produce a system sequence diagram consistent with the normal flow detailed in the full use case description.

What is the best way to determine what depreciation method : What is the best way to determine what depreciation method a company uses when referring to the financial statements?

Members of an indefinitely large population : Members of an indefinitely large population are either immune to a given disease or are susceptible to it. Let Xn be the number of susceptible members in the population at time period n and suppose X0 = 0 and that in the absence of an epidemic X(n+1)..

What are qualitative characteristics of useful information : According to CICA Handbook section 1000 (ASPE), what are the “qualitative characteristics of useful information”? What is the difference between ASPE and IRFS characteristics of useful information?

User Account

All Pages