Which of the Following Is the Last Step in the Daily

question 140

Multiple Choice

Which of the following is the last step in the daily control over cash receipts by mail?

• A) A mailroom employee sends all customer checks to the treasurer who has the cashier make the bank deposit.
• B) The controller opens the mail and sends the remittance advices to the accounting department.
• C) The controller compares the records of the day's bank deposit amount from the treasurer and the debit to Cash from the accounting department.
• D) The accounting department prepares journal entries to cash and the customers' accounts.

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Definitions:

Direct Labour

Represents the wages of employees who are directly involved in the production of goods or the provision of services.

Manufacturing Overhead

All the indirect costs associated with the production process, excluding direct materials and direct labor.

Product Costs

Costs that are directly associated with the production of goods or services, including materials, labor, and overhead expenses.

Downstream Cost

Expenses incurred after the production phase, such as distribution and marketing costs.