Internal Control Procedures for Cash Receipts Do Not Require That

question 152

Multiple Choice

Internal control procedures for cash receipts do not require that:

• A) Cash sales should be recorded on a cash register at the time of each sale.
• B) Custody over cash is kept separate from its recordkeeping.
• C) An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.
• D) All collections for sales are received immediately upon making the sales.
• E) Clerks having access to cash in a cash register should not have access to the register tape or file.

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Definitions:

Landrum-Griffin Act

A U.S. federal law enacted in 1959 to regulate labor unions' internal affairs and their officials' relationships with employers.

Labor Leaders

Individuals who advocate for the rights and interests of workers, often holding positions of authority within labor unions.

Abuses of Power

Situations where individuals in positions of authority use their power in ways that are unethical, unfair, or harmful to others.

NLRB

The National Labor Relations Board, a US federal agency responsible for enforcing labor laws in relation to collective bargaining and unfair labor practices.