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matrenka [14]
3 years ago
11

Internal control procedures for cash receipts do not require that:_____.

Business
1 answer:
Alex73 [517]3 years ago
7 0

Answer:

b. All collections for sales are received immediately upon making the sales.

Explanation:

Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the

resources of an organization are been

measured as well as been directed and monitored.

It should be noted that Internal control procedures for cash receipts require that:.

✓Custody over cash is kept separate from its recordkeeping.

✓Clerks having access to cash in a cash register should not have access to the register tape or file.

✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.

✓Cash sales should be recorded on a cash register at the time of each sale

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The terms on which the company sells its goods might be used to compare the DSO and those terms.

<h3>What are goods?</h3>

Goods are any products, raw resources, or consumables that are sold to customers, businesses, or governmental organizations.

Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods. Legal counsel, housekeeping, and consulting services are a few examples of services.

The supply and demand in an economy play a big role in determining the prices of commodities. Private goods, common goods, club goods, and public goods are the four different categories of products. The degree of exclusivity, or the number of persons who can experience them, varies.

The tangible items we refer to as "material goods" They are visible, touchable, and transportable from one location to another.

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3 0
2 years ago
When getting a haircut, the customer not only is present, but also may participate in the service process. this is an example th
Olenka [21]

Answer: Inseperable

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7 0
3 years ago
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He should consider where he is going to get the money from, how soon he will be able to pay it back if he borrowed it, and if he needs anymore emplyees for the expansion. 
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