Posted: December 17th, 2015

Aldstadt Company has the following internal control procedures over cash receipts.

Aldstadt Company has the following internal control procedures over cash receipts.

Identify the internal control principle that is applicable to each procedure. (Identify the internal control principles applicable to cash.(SO 3), C)

(a)    All over-the-counter receipts are registered on cash registers.

(b)   All cashiers are bonded.

(c)    Daily cash counts are made by cashier department supervisors.

(d)   The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals.

(e)    Only cashiers may operate cash registers.