Identify the internal control procedures applicable to cash disbursements followed by Tolan Company in each of the
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Question:
Identify the internal control procedures applicable to cash disbursements followed by Tolan Company in each of the following cases.
1. | Company checks are pre-numbered. | select the internal control procedure | ||
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2. | Only the treasurer is authorized to sign checks. | select the internal control procedure | ||
3. | Bonding of employees that handle cash. | select the internal control procedure | ||
4. | Blank checks are stored in a locked safe. | select the internal control procedure | ||
5. | The bookkeeper, not the treasurer, records cash disbursements. | select the internal control procedure |
Related Book For
Investments
ISBN: 978-0071338875
8th Canadian Edition
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
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