Which of the following is an internal control procedure designed to protect cash receipts quizlet?
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Which of the following is an internal procedure that many businesses use to control cash?Explanation: A basic internal control procedure is to deposit all cash receipts in the bank shortly after the cash is received. It is common for company's to deposit cash receipts on a daily basis.
What is the primary internal control goal for cash receipts?the primary internal control goal for cash receipts is to ensure that the business receives the appropriate amount of cash and safely deposits it in the bank.
Which internal control principle is most important in a control system for handling cash receipts?-Establishment of responsibility. Which internal control principle is most important in a control system for handling cash receipts? *The system for handling cash receipts uses an important internal control principle that separates the record keeping from the physical custody of assets.
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