After Making the Deposit, the Daily Cash Summary Should Be

question 37

Multiple Choice

After making the deposit, the daily cash summary should be forwarded by the cashier directly to:

• A) the chief financial officer.
• B) the accounts receivable clerk.
• C) general accounting.
• D) the cash receipts clerk.

---

Definitions:

Activity-Based Costing

An accounting method that identifies the activities a firm performs and then assigns indirect costs to products. It improves accuracy of product costing by linking cost more directly to the activities that drive those costs.

Overhead Cost

Indirect expenses related to the general operation of a business, not directly tied to a specific product or service.

First Stage Allocations

The initial process of distributing overhead costs to various cost centers or departments in a company.

Order Filling

The process of completing a customer's order, including picking, packing, and shipping the product.