Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 7 - Fraud, Internal Control, and Cash - Questions - Page 372: 17

Answer

All mail receipts are opened in the presence of two mail clerks. This process provides excellent internal control for the company.

Work Step by Step

By employing two clerks, the chance of fraud is reduced. Each clerk knows that he is being watched by the other clerk.
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