question archive True or False: A basic guideline for safeguarding cash is to separate the duties of those who have custody of cash from those who keep cash records
True or False: A basic guideline for safeguarding cash is to separate the duties of those who have custody of cash from those who keep cash records
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True or False: A basic guideline for safeguarding cash is to separate the duties of those who have custody of cash from those who keep cash records.
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The answer is true. Those who have access to cash (custody to it) should not be the same people who keep records of it. Without this segregation of duties, there would be great potential for theft and misappropriation. By segregating these duties, the risk can be greatly diminished.
