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:

Financial Statements

Formal records that outline the financial activities and conditions of a business, including the balance sheet, income statement, and cash flow statement.

Accuracy in Accounting

The principle that ensures financial records and statements are free from errors or discrepancies and faithfully represent the financial performance and position of an entity.

Operating Activities

Business activities directly related to the production, sales, and delivery of a company's products and services, reflected in its cash flow.

Investing Activities

Part of cash flow from investing, representing transactions related to the acquisition or disposal of long-term assets and investments other than inventory.