Internal Control Procedures for Cash Receipts Do Not Require That

question 75

Multiple Choice

Internal control procedures for cash receipts do not require that:

• A)Custody over cash is kept separate from its recordkeeping.
• B)All collections for sales are be received immediately upon making the sales.
• C)Clerks having access to cash in a cash register should not have access to the register tape or file.
• D)An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.
• E)Cash sales should be recorded on a cash register at the time of each sale.

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Definitions:

Ego

In psychoanalytic theory, the part of the personality that mediates between the desires of the id, the norms of the superego, and the realities of the external world.

Topographic Model

A framework in Freudian psychoanalysis that divides the mind into the conscious, preconscious, and unconscious levels of awareness.

Preconscious

The part of the mind containing information that is not currently in conscious awareness but can be easily brought to consciousness.

Vienna Psychoanalytic Society

An organization founded by Sigmund Freud in 1902, dedicated to the study and promotion of psychoanalysis.