Ask Question
BusinessBusiness
15 May, 22:43

One basic but critical component of internal controls for cash management is of duties.

+2
Answers (1)
  1. 16 May, 01:40
    0
    The segregation of duties is the important component. This makes sure that each person has a specific action to undertake and ensures that the finances are being handled properly and securely. It ensures that each person is responsible for one part of the cash-handling chain and that, if there is a breakdown from one person to the next, there is a definite place to look to see who is guilty of the loss of funds.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “One basic but critical component of internal controls for cash management is of duties. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What is the difference between a nominal value and a real value? a. A nominal value is measured in monetary units adjusted for inflation, unlike a real value. b.
Answers (1)
What type of event would cause two separate journal entries to be made? a. selling the goods b. closing overapplied overhead to cost of goods sold c. transferring the goods to finished goods d.
Answers (1)
Determine what a person should take into account when purchains expensive, durable goods.
Answers (1)
Tammi wants to buy a new stereo system. She finds one for $500 at Stereo City. She withdraws $250 from her account at First National Bank and obtains a loan from her parents for the rest of the amount. Then she purchases the stereo.
Answers (1)
Large expenses such as the purchase of a new mri machine or the building of a new office is known as:
Answers (1)
New Questions in Business
Using the following information, what is the amount of net income? Purchases $ 33,189 Selling expenses $ 758 Merchandise inventory, September 1 7,436 Merchandise inventory, September 30 8,978 Administrative expenses 760 Sales 51,684 Rent revenue 832
Answers (1)
You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. O True O False
Answers (1)
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 17,000 $ 12,000 Finished goods $ 46,000 $ 50,000 Additional information: Direct materials $ 57,000 Direct labor cost $ 87,000 Manufacturing
Answers (1)
Marcy Tucker received the following items this year. Determine to what extent each item is included in her AGI. (Leave no cells blank - be sure to enter "0" wherever required.) A $25,000 cash gift from her parents.
Answers (1)
Analysis of daily output of a factory during a 8-hour shift shows that the hourly number of units y produced after t hours of production is
Answers (1)
Home » Business » One basic but critical component of internal controls for cash management is of duties.
Sign Up Forgot Password?