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?

Solutions

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 1 year ago

Next > < Previous

Related Solutions

There are a number of specific steps in the appraisal process. What is the final step?...

There are a number of specific steps in the appraisal process. What is the final step? To reconcile the appraiser's final valuation with the amount needed so the property "appraises out" To reconcile the values derived from the three valuation approaches To estimate the value of the land To estimate the effects of depreciation

6. The final step in the infectious process is disease production (or pathology). By what major...

6. The final step in the infectious process is disease production (or pathology). By what major mechanism can an infection with microorganisms result in disease? Give an example of each mechanism for the pathogens.

Naive lymphocytes go through a three-step activation process. The stimulus in the final step is provided...

Naive lymphocytes go through a three-step activation process. The stimulus in the final step is provided by a(n): Question 8 options: helper T cell antibody macrophage dendritic cell The activation of naive helper T cells is typically initiated by a(n): Question 9 options: histamine molecule B cell dendritic cell macrophage

Translating research into practice is the final and most important step in the research process. Review...

Translating research into practice is the final and most important step in the research process. Review information you found your nursing clinical issue and explain ways in which you would share the research-based evidence with your peers.

Note This is a guideline and is not meant to show you exactly step-by-step how to...

Note This is a guideline and is not meant to show you exactly step-by-step how to do the project (although it comes close to doing that). In the “real world”, your boss is not going to show you how to do everything. She is going to ask you to do something and you are going to have to do it to the best of your ability. Objective The assignment is to estimate the weighted average cost of capital (WACC) for...

Consider the seven steps of hypothesis testing. The final step in the hypothesis-testing process involves deciding...

Consider the seven steps of hypothesis testing. The final step in the hypothesis-testing process involves deciding whether to reject the null hypothesis. Assuming thenull hypothesis is not rejected, what is the difference between accepting the null hypothesis and failing to reject it? Explain your reasoning.

I need name of the final compound, and step by step equations of the reaction for...

I need name of the final compound, and step by step equations of the reaction for the experiment below. Ethylenediamine complexes of Cobalt Procedure 1. Dissolved 1.5 g CoCl2 in 5mL water 2. While the CoCl2 6H2O is dissolving, measure out 10mL of an ethylenediamine solution. (The solution is prepared by dissolving 130mL of anhydrous ehylenediamine in one liter of water) 3.Cool the ethylenediamine solution in ice. 4.Slowly add 2.1mL 3M HCl 5.Add the CoCl2 solution to the partially neutrolized...

If the volume is the same in the whole process, the process is performed with an...

If the volume is the same in the whole process, the process is performed with an isochoric. Select one: True False -------------------------------------------------------------------------------------------------------------------- Every quasistatic process is necessarily reversible Select one: True False ---------------------------------------------------------------- The a / v2 term in the van der Waals equation is caused by the forces exchanging between molecules Select one: True False

Can u write please what are the gear design process , step by step

1.a)What is the process of asset transformation performed by a financial institution? Why does this process...

1.a)What is the process of asset transformation performed by a financial institution? Why does this process often lead to the creation of interest rate risk? What is interest rate risk? b) Two 10-year bonds are being considered for an investment that may have to be liquidated before the maturity of the bonds. The first bond is a 10-year premium bond with a coupon rate higher than its required rate of return and the second bond is a zero-coupon bond that...

Subjects