When Processing and Recording Cash Payments, It Is Important to Have

question 116

Multiple Choice

When processing and recording cash payments, it is important to have a method of cancelling the supporting documents to prevent their reuse as support for another cheque at a later time.A common method is to:

• A) move the documents to a permanent off-site facility such as a warehouse.
• B) transfer possession of the document to a bank vault such as a safety deposit box.
• C) write the cheque number on the supporting documents.
• D) shred the documents so they can't be reused.

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