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:

Disclose Contents

Revealing or making known the contents of a document or discussion, often in a legal or official context.

Next Day Off

The following day when an individual is scheduled to be free from work or obligations.

Illegal

Activities or actions that are prohibited by law and subject to criminal penalties or civil remedies.

Disputed Debt

A debt that is not agreed upon by the debtor and creditor, often leading to legal action or negotiation for resolution.