Which of the Following Is a Measure for Discouraging Theft

question 132

Multiple Choice

Which of the following is a measure for discouraging theft for a retail store that accepts cash receipts over the counter?

• A) A receipt is issued for each transaction to ensure that each sale is recorded.
• B) At the end of the day, the sales clerk proves the cash by comparing the cash in the drawer against the machine's record of cash sales.
• C) The sales clerk uses the machine tape to record the journal entry for cash receipts and sales revenue.
• D) The store clerk deposits the cash in the bank.

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Definitions:

Cash Dividend

A cash dividend is a payout of earnings by a corporation to its shareholders in the form of cash.

Financial Statements

Documents that present an organization's financial performance and position, including the income statement, balance sheet, and cash flow statement.

Liabilities

Financial obligations or debts owed by a business to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Stockholders' Equity

Stockholders' equity represents the residual interest in the assets of a corporation after deducting liabilities, essentially the net worth of the company.