Indicate whether each of the following statements about cash payments is true or false.
-The person who signs a business's checks should make the journal entry to record the payment of cash

Question

Quizplus · Accepted Answer

The person who signs a business's checks is typically not the same person responsible for recording the payment of cash in the journal. The person who handles the company's bookkeeping or accounting duties should be the one to make the entry.

Indicate Whether Each of the Following Statements About Cash Payments