Exactly what is accomplished by the final step in the process, performed by the controller?

Question Applying internal control over cash receipts by mail. Review the internal controls over cash receipts by mail presented in the chapter. Exactly what is accomplished by the final step in the process, performed by the controller?

Expert Solution

Step 1: Definition of the control over cash receipts by mail

It is the type of internal control in which all the check received by mail is controlled.

Step 2: The controller accomplishes the final step

In the final step of the control over cash receipts by mail, the controller accomplishes that the debit of the cash is equal to the amount deposited into the bank account.

Answer

The debit of the cash is equal to the amount deposited in the bank.

Komal Hooda answered 2 years ago

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