Asked by Silvia Gopalakrishnan on Jul 02, 2024
Verified
Match the internal control principle below with the appropriate cash receipts procedure described. 
Internal Control
The procedures and measures implemented by a company to safeguard assets, ensure accuracy in financial reporting, and comply with laws and regulations.
Cash Receipts Procedure
A set of steps followed by a business to track and document the inflow of cash from transactions.
- Apply internal control principles to cash transactions.
Verified Answer
AL
Learning Objectives
- Apply internal control principles to cash transactions.