Jolson company has the following internal control procedures over cash receipts. identify the internal control principle that is applicable to each procedure. (a) all over-the-counter receipts are entered in cash registers. select a principle of internal control (b) all cashiers are bonded. select a principle of internal control (c) daily cash counts are made by cashier department supervisors. select a principle of internal control (d) the duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. select a principle of internal control (e) only cashiers may operate cash registers.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan