In the Cash Receipts Process, What Must Take Place Directly

question 38

Multiple Choice

In the cash receipts process, what must take place directly after preparing the cash receipts journal?

• A)A deposit should be prepared and all cash and checks received should be deposited.
• B)The cash receipt should be matched with the original sales invoice.
• C)Both answers are correct
• D)Neither answer is correct

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Definitions:

Fully Responsible

Refers to being wholly accountable for an action or situation without exception.

Contracts

Legally binding agreements between two or more parties that outline duties, rights, and obligations.

Life Insurance

A contract between an insurer and an insured individual that promises payment of a death benefit to designated beneficiaries upon the insured's death.

Contracts

Legally binding agreements between two or more parties that are enforceable by law.