Preventive Controls and Detective Controls Video Lessons

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Problem: The following procedures are followed by a company cashier: count money in the cash drawer, compare the cash count with recorded daily sales, make notations of any differences on a preprinted form that is forwarded, along with the cash, to the accounting department. These procedures: a. will provide adequate internal control over cash. b. are unacceptable, since they do not follow good internal control practices. c. are acceptable, since they adhere to internal control practices. d. follow the broad principles of internal control.

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Problem Details

The following procedures are followed by a company cashier: count money in the cash drawer, compare the cash count with recorded daily sales, make notations of any differences on a preprinted form that is forwarded, along with the cash, to the accounting department. These procedures:

a. will provide adequate internal control over cash.

b. are unacceptable, since they do not follow good internal control practices.

c. are acceptable, since they adhere to internal control practices.

d. follow the broad principles of internal control.

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Our tutors rated the difficulty ofThe following procedures are followed by a company cashier: ...as medium difficulty.