State two specific functions or jobs that should be segregated in the cash receipts system
cash receipts (custody) from accounts receivable (record keeping); and general ledger from accounts receivable subsidiary ledger; mail room (receiving cash) and accounts receivable subsidiary ledger
You might also like to view...
Discuss the three elements of a needs assessment process.
What will be an ideal response?
Hammer bought a tool set from Weekend Projects, Inc and signed a consumer credit contract promising to pay for the tool set in 12 monthly installments. Weekend promptly negotiated the instrument to its affiliate Easy Finance Co in exchange for a
discounted payment. Easy Finance gave value for the instrument, in good faith, and without knowledge of any defects or claims against the instrument. The tool set was defective and therefore Hammer stopped making the monthly payments. Easy Finance sues Hammer for the balance due on the instrument. Can Hammer raise this personal defense (breach of implied warranty of merchantability) against Easy Finance? Discuss.
In a minimal spanning tree, the source and destination nodes must be connected along a single path
Indicate whether this statement is true or false.
The National Park Service hires Outdoor Play, Inc, to replace outdated playground equipment in a handful of national parks. For this action, an environmental impact statement is most likely
a. prohibited because the action does not affect the environment. b. required because the action is "federal.". c. unnecessary because the action is not "major.". d. voluntary because the action does not affect the environment.