The cash receipts function, which includes the process of receipts from cash and credit sales, involves the following subfunctions: (1) disbursing cash, (2) depositing cash, and (3) recording the receipts.

Question

Quizplus · Accepted Answer

The cash receipts function primarily involves collecting and depositing cash and checks, and recording the receipts in the accounting records. Disbursing cash is part of the cash disbursements function, not the cash receipts function.

The Cash Receipts Function, Which Includes the Process of Receipts