Internal control procedures for cash receipts do not require that:
A)Custody over cash is kept separate from its recordkeeping.
B)All collections for sales are received immediately upon making the sales.
C)Clerks having access to cash in a cash register should not have access to the register tape or file.
D)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.
E)Cash sales should be recorded on a cash register at the time of each sale.

Question

Quizplus · Accepted Answer

While it is important to promptly record all collections for sales, internal control procedures for cash receipts do not require that all collections for sales be received immediately upon making the sales. Other methods of collecting cash, such as receiving payment through the mail or electronic payment methods, may be permitted.

Internal Control Procedures for Cash Receipts Do Not Require That