Internal control procedures for cash receipts require all of the following except:
A)Custody over cash is kept separate from its recordkeeping.
B)All collections for sales must be received immediately upon making the sales.
C)Clerks having access to cash in a cash register should not have access to the register tape or file.
D)An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.
E)Cash sales should be recorded on a cash register at the time of each sale.

Question

Quizplus · Accepted Answer

Internal control procedures for cash receipts typically require immediate deposit of all collections from sales, but they do not necessarily require that all collections be received immediately upon making the sale. This answer is the outlier and does not follow standard internal control procedures.

Internal Control Procedures for Cash Receipts Require All of the Following