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(TCO 5) A key internal control in the sales and collection cycle is the separation...

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Accounting

(TCO 5) A key internal control in the sales and collection cycle is the separation of duties between cash handling and record keeping. The objective most directly associated with this control is to verify that

cash receipts recorded in the cash receipts journal are reasonable.

cash receipts are properly classified.
existing cash receipts are recorded.
recorded cash receipts result from legitimate transactions.

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