Bujold Company has the following internal controls over cash payments. Identify the control activity that is applicable

Question:

Bujold Company has the following internal controls over cash payments. Identify the control activity that is applicable to each of the following:
1. Company cheques are pre-numbered.
2. Blank cheques are stored in a safe in the controller's office.
3. All employees in the accounting department are required to take vacations each year.
4. The bank statement is reconciled monthly by the assistant controller.
5. Both the controller and the treasurer are required to sign cheques or authorize EFT.
6. Cheque signers are not allowed to record cash payments?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

Question Posted: