How much of the businesses revenue is collected as cash and what are the controls in place to protect this asset?

| June 8, 2014

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Chapter 4 – Cash, Cash Controls
Chapter Summary: (Student Assignment)
Question 1: How much of the businesses revenue is collected as cash and what are the controls in place to protect this asset?
Business Owner/Manager Answer 1:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 2: How is cash generated to support this business?
Business Owner/Manager Answer 2:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 3: What is the percentage of Cash transactions, Credit Card transactions and Accounts Receivables transactions? How are receivables managed for this business?
Business Owner/Manager Answer 3:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 4: How are the duties of receiving cash and cash disbursements segregated? Name the individual positions held to manage this process.
Business Owner/Manager Answer 4:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 5: What type of checks and balances do you have in place when cash has to be counted, recorded and deposited into the bank?
Business Owner/Manager Answer 5:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 6: Who established your Accounts Payable Contracts and what type of terms are negotiated? How is this relationship maintained and improved?
Business Owner/Manager Answer 6:
Business Owner/Manager converted to text-book language:
Recommendation/Explanation:
Question 7: (Student Assignment)
Business Owner/Manager Answer 7:
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2018DISC
Financial Institutions and market
How has the business owner determined the book value of the business’s short-term and long-term assets?

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Category: Business and Economics

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