Show A recent “KPMG Fraud Survey” found that organizations are reporting more experiences of fraud than in prior years and that three out of four organizations have uncovered fraud. The NYS Office of Mental Health's Bureau of Audit has provided the following list of internal controls to assist you in preventing and detecting fraud at your agency.
Which of the following is an internal control procedure designed to protect cash receipts quizlet?true. Which of the following is an internal control procedure designed to protect cash receipts? -Record cash collections immediately.
Which of the following are internal controls related to cash receipts?Which of the following are internal controls related to cash receipts: Cash receipts should always be recorded promptly. Bank reconciliation should be completed by an employee not responsible for cash receipts. Keep cash receipts in a locked register, safe, or drawer.
What internal controls can a business use to protect cash?The internal control that most effectively assures the secure handling of cash is separation of duties. Having different people receive cash, prepare the transmittal, and reconcile the ledger sheets attain this.
What are the 4 internal control measures for cash?Receive and deposit cash. Record cash payments to receivable records. Reconcile cash receipts to deposits and the general ledger. Bill for goods and services.
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