Select all that applyWhich of the following are internal controls for checks?Multiple select question.The person who handles cash receipts should also handle writing checks for purchases.Checks should be sequentially prenumbered.Checks for large amounts should require two signatures.The employee who writes the check should reconcile the bank statement.

Select all that applyWhich of the following are common controls over cash receipts? (Select all that apply.)Multiple select question.reducing the amount of total sales to customersopening mail daily and making a detailed list of checks receivedhaving two different employees take custody of the checks and make the depositplacing one trusted employee in charge of all cash-related activities

hich of the following is an internal control for checks received through the mail?Multiple ChoiceThe cashier prepares a journal entry to record price, quantity sold, and cash received.The accounting department counts the cash, prepares the deposit slip and deposits the cash in the bank.The accounting department compares the cash in the register with the cash count sheet.The mail clerk gives checks and money orders to the person who makes the bank deposit.

Select all that applyIdentify the examples of good internal controls designed to protect cash received in the mail.Multiple select question.Two people are assigned the task of, and are present for, opening the mail.The recordkeeper and the person who reconciles the bank balance do not have access to cash.The cashier records the amounts received in the accounting records.The bank balance is reconciled by the person(s) opening the mail.

Select all that applyEffective internal control over cash requires segregation of duties. Which of the following duties should be segregated?Multiple select question.Accepting credit cards and accepting cashOpening the mail and deposit of checks in the bankOpening the mail and making a list of checks receivedDepositing checks into the bank and recording receipts in the accounting records

Select all that applyGiven the choices below, choose the examples of internal controls designed to control cash payments.Multiple select question.Use of a voucher system.The person in charge of purchasing and receiving should be the only person authorized to pay.Only authorized individuals should be allowed to sign checks.Use of a petty cash system.All payments should be made by check.