Question: Match each of the following application control objectives to the

Match each of the following application control objectives to the appropriate transaction cycle.
a. Purchasing cycle
b. Sales cycle
c. Payroll cycle
d. Banking/Cash
e. Financial cycle

___ 1. All goods shipped are accurately billed in the proper period.
___ 2. Record cash receipts on accounts receivable completely and accurately.
___ 3. Enter and process time worked accurately.
___ 4. Ensure that items ordered are received on a timely basis.
___ 5. Disburse cash only for authorized purchases.
___ 6. System controls are in place for appropriate approval of write-offs.
___ 7. Record tax payments completely and accurately
___ 8. Prevent unauthorized use of purchase orders.
___ 9. Process only valid customer orders.
___ 10. Reconcile accounting records with physical assets.



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  • CreatedFebruary 20, 2015
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