An Entity with a Large Volume of Customer Remittances by Mail

question 15

Multiple Choice

An entity with a large volume of customer remittances by mail could most likely reduce the risk of employee misappropriation of cash by using:

• A)employee fidelity bonds.
• B)independently prepared mailroom prelists.
• C)daily check summaries.
• D)a bank lockbox system.

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Definitions:

Logarithms

The magnitude a base, such as 10 or e, must reach when raised to result in a designated number.

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To multiply out the terms of an expression.

Properties

Characteristics or attributes that help to define mathematical operations or objects.

Logarithms

The exponent or power to which a base number must be raised to produce a given value, which is the inverse operation of exponentiation.