The Accountants Who Record Cash Receipts and Credits to Customer

question 33

True/False

The accountants who record cash receipts and credits to customer accounts should not handle the cash.
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Definitions:

Cash Position

The amount of liquid assets that are readily available to an individual, company, or organization.

Treasurer

A financial officer responsible for managing the treasury, including overseeing cash management, investments, and risk assessments of an organization.

Corporation

A legal entity that is separate and distinct from its owners, which can own assets, incur liabilities, and sell stocks.

Organization Chart

A visual representation of the hierarchical structure of an organization, showing relationships between different positions and departments.