Which of the following internal controls would be most likely to deter the lapping of collections from customers?

Ibrahimhamm

Save to bookmark

2022-06-29

Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash summaries.
Authorization of write-offs of uncollectible accounts by a supervisor independent of the credit approval function.
Segregation of duties between receiving cash and posting the accounts receivable ledger.
Supervisory comparison of the daily cash summary with the sum of the cash receipts journal entries.

Accounting, textbook solutions, MCQ Questions, Accounting textbook-solutions, Accounting MCQ-questions,

Ibrahimhamm

2022-06-29

need an explanation for this answer? contact us directly to get an explanation for this answer

C. Segregation of duties between receiving cash and posting the accounts receivable ledger.

need an explanation for this answer? contact us directly to get an explanation for this answer

total answers (1)