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The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Multiple Choice A Making daily cash deposits B Frequent preparation of bank reconciliations C

The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Multiple Choice A Making daily cash deposits B Frequent preparation of bank reconciliations C

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments
Section: Chapter Questions
Problem 26RQSC
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The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Multiple Choice A Making daily cash deposits B Frequent preparation of bank reconciliations C Separation of cash payment from cash disbursement function D Ensuring all cash disbursements are tracked by making payments by cheque E Performing external audit
The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank, pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice being overlooked by the owner? Multiple Choice Making daily cash deposits Frequent preparation of bank reconciliations Separation of cash payment from cash disbursement function
Transcribed Image Text:The owner of Zeke's Landscaping Designs just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank, pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice being overlooked by the owner? Multiple Choice Making daily cash deposits Frequent preparation of bank reconciliations Separation of cash payment from cash disbursement function
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