Homework Answers
Answer;
1.Segregation of duties wherein credit department should not be given responsibilities to take customer payments or have any other cash handling responsibilities.For example , if a credit department employee also handles cash , the company would have no seperation of duties .The employee could pocket money received from a customer.The customer account would be considerd uncollectible and the billing would stop.The theft will be window dressed.
2.The company's credit department should not take customer payments or have any other cash-handling responsibilities.
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