hich of the following is an internal control for checks received through the mail?Multiple ChoiceThe cashier prepares a journal entry to record price, quantity sold, and cash received.The accounting department counts the cash, prepares the deposit slip and deposits the cash in the bank.The accounting department compares the cash in the register with the cash count sheet.The mail clerk gives checks and money orders to the person who makes the bank deposit.

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 bank balance is reconciled by the person(s) opening the mail.The recordkeeper and the person who reconciles the bank balance do not have access to cash.Two people are assigned the task of, and are present for, opening the mail.

What features of cash receipt internal control system would be expected to prevent the cash receipts journal and recorded cash sales from reflecting more than the amount shown on the daily deposit slip? * The shipping department then packs the merchandise, arranges transportation with a common carrier, and prepares a shipping document. The shipping document is a multi-copy document that lists the items, gives instructions to the common carrier as to whom and to what the address to ship the merchandise, and may serve as a packing slip for the merchandise. Copies of the shipping document are given to the carrier, and copies are sent to the billing department. All of the above

Select all that applyWhich of the following are internal controls for checks?Multiple select question.The person who handles cash receipts should also handle writing checks for purchases.Checks should be sequentially prenumbered.Checks for large amounts should require two signatures.The employee who writes the check should reconcile the bank statement.

Select all that applyIdentify the examples of good internal control designed to protect over-the-counter cash receipts.Multiple select question.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.Clerks should be required to give the customer a receipt for each sale.The cash register should hold a temporary record of the transaction.

What is the primary objective of internal controls over an entity's expenditures/disbursements cycle?Option     To ensure all cash disbursements are recorded accurately     To verify that transactions involving property, plant, and equipment are properly classified     To limit access to purchasing, receiving, and accounts payable records     To reconcile detailed cash and account balance records with control accounts and bank statements