Which of the Following Procedures Is Not Consistent with Good

question 63

Multiple Choice

Which of the following procedures is not consistent with good control of cash receipts?

• A) Assignment of cash custody and reconciliation to the same individual
• B) Separate responsibilities for cash-handling and cash-recording functions
• C) Assignment of responsibilities to ensure a continuous and uninterrupted flow of cash from initial receipt to deposit in an authorized bank account
• D) Continuous and close supervision of all cash-handling and cash-recording functions

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Definitions:

Housing Costs

Expenses associated with owning or renting a home, including mortgage or rent payments, utilities, maintenance, and taxes.

CPI (Consumer Price Index)

An index that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Real Value

The value of an object, factoring in the effects of inflation on purchasing power.

CPI (Consumer Price Index)

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate the cost of living.