As long as the same person deposits customer cheques and records the deposits into the ledger,there will be good internal control over cash receipts.

Question

Quizplus · Accepted Answer

It is not good internal control to have the same person responsible for both receiving and recording cash receipts. This creates a risk of theft or errors going undetected. It is best practice to have separation of duties so that multiple people are involved in the cash receipts process.

As Long as the Same Person Deposits Customer Cheques and Records