Fox Erasing has a system of internal control with the following procedures. Match the procedure to the
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Procedure Internal Control Principle A. Establish responsibility B. Segregate duties C. Restrict access D. Document procedures E. Independently verify 1. The treasurer signs checks. -2. The treasurer is not allowed to make bank deposits 3. The company's checks are prenumbered. 4. Unused checks are stored in the vault. 5. A bank reconciliation is prepared each month.
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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