In addition to the cashier and clerk who have access to the cash, a third employee should have access toMultiple choice question.the actual cash, but not the records for cashthe records for cash, but not the actual cashneither the records for cash nor the actual cashboth the records for cash and the actual cash

Select all that applyIdentify the examples of good internal control designed to protect over-the-counter cash receipts.Multiple select question.Clerks should be required to give the customer a receipt for each sale.The clerk and the cashier have access to cash, but not to the accounting records.The clerk who has access to cash in the register should have access to its locked-in record.The cash register should hold a temporary record of the transaction.

Select all that applyIdentify the examples of good internal controls designed to protect cash received in the mail.Multiple select question.The cashier records the amounts received in the accounting records.The recordkeeper and the person who reconciles the bank balance do not have access to cash.The bank balance is reconciled by the person(s) opening the mail.Two people are assigned the task of, and are present for, opening the mail.

Multiple Choice QuestionIdle cash typically does not earn interest for the company, thus financial managers try to keep small amounts of cash on hand, called _____, to pay current bills such as wages, supplies, and utilities.Multiple choice question.working capitalcommercial paperfiat moneytransaction balances

A good internal control system would require that the employee who handles cash must not be involved inMultiple choice question.the accounts payable function.daily operations of the company.reconciling the bank statement.hiring decisions.

Select all that applyWhen cash is received by mail, a list should be prepared with copies sent to all of the following:Multiple select question.the person who opened the mailrecordkeeperthe treasurerwith the cash receipts to the cashierthe company's banker