A Basic Procedure of Internal Control Over Cash Receipts Is

question 126

True/False

A basic procedure of internal control over cash receipts is that the deposit of the cash and the recording of the receipts into the journal should be separated.

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Definitions:

VLOOKUP

A function in spreadsheet applications that searches for a value in the first column of a table array and returns a value in the same row from a specified column.

HLOOKUP

A function in spreadsheet software that searches for a value in the top row of a table or range and returns a value in the same column from a specified row.

INDEX

A function in programming and spreadsheet software that returns the value of an element in a table or array, identified by row and column numbers.

Cells Group

A grouping of cells in applications like Excel, often to perform bulk operations or formatting.