Question

A large furniture store has several sales clerks who ring up sales for customers and receive cash. at the end of the day, the clerks tally their cash register drawer and take the cash and checks to the cashier. the shift supervisor collects all of the cash register tapes at the end of each shift and sends it to the accounting department. which cash receipt control is the company implementing?

Answer 1

The supervisor is implementing step 5 in the cash receipt control. In this step they get the sum of all cash in the drawer and send it to the accounting department for review. There are 9 steps in the cash receipt control process. Each step play a vital role in making sure funds are handled accurately and appropriately. 

Answer 2

The correct answer is: Separation of duties.

Step-by-step explanation:

Separation of duties is an accounting method that consists in assigning different roles to employees inside an organization to prevent fraud. In this scenario an individual is in charge of collecting the assets, a different employee is in charge of the custody, and another employee handles the record keeping.