193. Internal control over cash transactions (a.) Describe three measures contributing to strong internal control over cash receipts.(b.) Describe three measures contributing to effective internal...

193. Internal control over cash transactions

(a.) Describe three measures contributing to strong internal control over
cash receipts.
(b.) Describe three measures contributing to effective internal control over
cash disbursements.

194. Cash management

(a.) What is meant by the term "cash management"?
(b.) Identify at least three basic objectives of effective cash management.

(a) The term
cash management
refers to planning, controlling, and accounting for cash transactions and cash balances.
(b) Student may choose three of the following objectives of cash management:
Provide accurate accounting for cash receipts, cash disbursements, and cash balances.
Prevent or minimize losses from theft or fraud.
Anticipate the need for borrowing and assure the availability of adequate amounts of cash for conducting business.
Prevent unnecessarily large amounts of cash from sitting idle in bank accounts that produce no revenue.