For proper internal control, the custodianship of cash, including receipts and disbursements, should be the responsibility of the accounting department.

Name: For proper internal control, the custodianship of cash, including receipts and disbursements, should be the responsibility of the accounting department.
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Question

Quizplus · Accepted Answer

Proper internal control principles dictate the separation of duties; the custodianship of cash should be separate from the accounting functions to prevent fraud and errors.

For Proper Internal Control, the Custodianship of Cash, Including Receipts