Risks related to the prelisting of cash receipts and remittance advices relate to ________.
A)cash sales may not be recorded
B)errors may be made in journalizing cash receipts
C)checks received may not agree with prelist of cash
D)receipts may be posted to the wrong customer account

Question

Quizplus · Accepted Answer

Prelisting of cash receipts and remittance advices may not always be accurate, and there is a risk that checks received may not agree with the prelist of cash. This can cause discrepancies in accounting records and mismanagement of cash. However, cash sales not being recorded, errors in journalizing cash receipts, and receipts being posted to the wrong customer account are all risks unrelated to prelisting of cash receipts and remittance advices.

Risks Related to the Prelisting of Cash Receipts and Remittance