As Long as the Same Person Deposits Customer Checks and Records

question 66

True/False

As long as the same person deposits customer checks and records the deposits into the journal,there will be good internal control over cash receipts.

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Definitions:

Days In Inventory

Days in inventory is a financial metric that measures the average number of days a company holds inventory before selling it, indicating the efficiency of inventory management.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year.

Dividend Yield

A metric indicating the annual dividends a firm distributes in relation to its share price.

Asset Turnover

A financial ratio indicating how efficiently a company uses its assets to generate revenue.