Unformatted text preview: receipts. Identify the internal control principle that is applicable to each procedure. (a) All over-the-counter receipts are registered on cash registers. (physical, mechanical, and electronic controls) (b)All cashiers are bonded. (other control or human resources) (c) Daily cash counts are made by cashier department supervisors. (establishment of responsibility) (d)The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. (segregation of duty) (e) Only cashiers may operate cash registers. (establishment of responsibility)...
View Full Document
- Spring '11
- internal control procedures, Cash Registers, PHILLIPS COMPANY, Aldstadt Company