When a Company Receives Cash by Mail

question 10

Multiple Choice

When a company receives cash by mail:

• A) all incoming mail containing cash receipts should be opened by the accounting department.
• B) the mailroom sends all customer checks to the internal audit department.
• C) the remittance advice goes to the accounting department for preparation of the journal entries.
• D) the bank deposit is prepared by the mail room.

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Definitions:

Catherine of Aragon

The first wife of King Henry VIII of England, whose marriage's annulment led to the English Reformation.

English Protestantism

A form of Christianity established in England following the Reformation, characterized by the rejection of papal authority and the embrace of Anglican doctrines and practices.

The Irish

Refers to the people of Ireland or those of Irish descent, often focusing on their unique cultural identity, history, and diaspora.

Enclosure Movement

A legal process that divided large farm fields in England that were previously collectively owned by groups of peasants into smaller, individually owned plots. The enclosure movement took place over several centuries and resulted in eviction for many peasants.