Which of the Following Would NOT Represent Good Controls Over

question 92

Multiple Choice

Which of the following would NOT represent good controls over cash receipts?

• A)Record all cash receipts as soon as possible.
• B)The employee that receives cash and checks should also deposit them in the bank.
• C)Open mail each day and make a list of checks received with the amount and payer's name.

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Definitions:

Prices

The monetary value assigned to goods and services, determining how much consumers need to pay to obtain them.

Production

The process of creating goods or services by combining various inputs like labor, materials, and technology.

Price L

A specific notation used to denote a certain price level in economic models or discussions.

Factor Prices

The costs associated with the inputs used in production, such as labor wages and capital rental rates.