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Question: Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each procedure.

(a) All over-the-counter receipts are entered in cash registers.

(b) All cashiers are bonded.

(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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92656709

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