The person who is responsible for the given option. Introduction: Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Question

Upon receipt of customers’ checks in the mail room, a responsible employee should prepare a remittance list that is forwarded to the cashier. A copy of the list should be sent to thea. Internal auditor to investigate the list for unusual transactions.b. Treasurer to compare the list with the monthly bank statement.c. Accounts receivable bookkeeper to update the subsidiary accounts receivable records.d. Entity’s bank to compare the list with the cashier’s deposit slip.

Answer 1

Question

Chapter 8, Problem 5P

Summary Introduction

To determine: The person who is responsible for the given option.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

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Upon receipt of customers’ checks in the mail room, a responsible employee should prepare a remittance list that is forwarded to the cashier. A copy of the list should be sent to thea. Internal auditor to investigate the list for unusual transactions.b. Treasurer to compare the list with the monthly bank statement.c. Accounts receivable bookkeeper to update the subsidiary accounts receivable records.d. Entity’s bank to compare the list with the cashier’s deposit slip.

Good internal controls include upon receiving checks from customers by mail, a responsible employee should A. Add the checks to the daily cash summary B. Verify that check is supported by prenumbered sales invoices C. Prepare a duplicate listing of checks received D. Record the checks in the cash receipts journal

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