Business, 16.03.2020 18:35 raquelle66

A good system of internal control for cash provides adequate procedures for protecting both cash receipts and cash
disbursements. Identify each of the following statements as either true or false regarding this protection.

a. A basic guideline for safeguarding cash is that all cash receipts be deposited weekly or monthly.

b. A voucher system of control is a control system exclusively for cash receipts.

c. A basic guideline for safeguarding cash is to separate the duties of those who have custody of cash from those
who keep cash records.

d. A petty cash system is not a control procedure for safeguarding cash.

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