Business, 21.12.2019 02:31 Isaiahtate053

Which of the following procedures would weaken control over cash receipts that arrive through the mail?

(a) for safety, only one person should open the mail, and that person should immediately deposit the cash received in the bank.
(b) the employees handling the cash receipts are bonded.
(c) the cashier deposits the money in the bank and the recordkeeper records the amounts received in the accounting records.
(d) after the mail is opened, a list (in triplicate) of the money received is prepared with a record of the sender's name, the amount, and an explanation of why the money is sent.
(e) the bank reconciliation is prepared by a person who does not handle cash or record cash receipts.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 16:00

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.

Answers: 1

Answer

Business, 22.06.2019 19:30

Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?

Answers: 3

Answer

Business, 23.06.2019 00:10

Mno corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. the company based its predetermined overhead rate for the current year on the following data: total estimated direct labor-hours 50,000 total estimated fixed manufacturing overhead cost $ 285,000 estimated variable manufacturing overhead per direct labor-hour $ 3.80 recently, job p123 was completed with the following characteristics: total actual direct labor-hours 20 direct materials $ 710 direct labor cost $ 500 the amount of overhead applied to job p123 is closest to:

Answers: 2

Answer

Business, 23.06.2019 04:20

What common business mistake can cost you everything

Answers: 1

Answer

You know the right answer?

Which of the following procedures would weaken control over cash receipts that arrive through the ma...

Questions

Business, 22.09.2021 14:00

Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to vien additional questions Onli...