When dealing with the processing and recording of cash receipts,
A) the most important concern is the theft of cash.
B) theft can only occur before the receipts are entered into the records.
C) cash receipts should be deposited at least monthly.
D) the monthly statement is used to prepare the cash receipts journal.

Question

Quizplus · Accepted Answer

The most important concern when dealing with the processing and recording of cash receipts is the potential for theft of cash, as it is a liquid asset and easily misappropriated.

When Dealing with the Processing and Recording of Cash Receipts