Which of the following procedures would weaken the control over cash receipts that arrive through the mail?
A)After the mail is opened,a list (in triplicate) of the money received is prepared with a record of the sender's name,the amount,and an explanation of why the money is sent.
B)The bank reconciliation is prepared by a person who does not handle cash or record cash receipts.
C)For safety,only one person should open the mail and that person should immediately deposit the cash received in the bank.
D)The cashier should not also be the record keeper who records the amounts received in the accounting records.
E)All of the above are good internal control procedures over cash receipts that arrive through the mail.

Question

Quizplus · Accepted Answer

Option C suggests that only one person should open the mail and that person should immediately deposit the cash received in the bank. This procedure would weaken the control over cash receipts because there is no segregation of duties. One person would have too much control over the entire process, increasing the likelihood of errors, fraud, or misappropriation of funds. The other options suggest good internal control procedures, such as maintaining a record of the sender's name and amount received, having separate individuals for handling cash and record-keeping, and preparing bank reconciliation by an independent person.

Which of the Following Procedures Would Weaken the Control Over