For strong controls over cash receipts, the checks to be deposited should be sent to the treasurer, and the remittance advices

Question

cupoosta [38]

2 years ago

11

For strong controls over cash receipts, the checks to be deposited should be sent to the treasurer, and the remittance advices

should be sent to the accounting department. T/F

Business

1 answer:

Tema [17] · Answer 1 · 2022-06-01T20:26:37+03:00

Answer:

The correct answer is True.

Explanation:

The two areas are responsible for the physical management of any economic transaction of the entity, therefore effective control means the custody of said documents for proper internal management of financial information. Both checks and remittances are care transactions that must be properly supported.

For strong controls over cash​ receipts, the checks to be deposited should be sent to the​ treasurer, and the remittance advices

For strong controls over cash receipts, the checks to be deposited should be sent to the treasurer, and the remittance advices