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The Office Manager Forgot to Record in the Accounting Records

question 118

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The office manager forgot to record in the accounting records the daily bank deposit.Which control procedure would most likely prevent or detect this error?


Definitions:

Interest Rate

The cost of borrowing money or the compensation for lending money, usually expressed as a percentage of the principal amount per period.

Rational Investor

A person who utilizes logical analysis for making investment choices, with the goal of maximizing gains and reducing risks.

Interest Rate

The cost of borrowing money or the rate paid on deposits, serving as the price of credit or savings in the financial market.

Interest Rate

The proportion of a total amount of money that is levied for borrowing it, usually stated on a yearly basis.

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