Match each of the following cash payment activities to the internal control principle to which it best
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1. The business manager has the only key to the A Establish responsibility check-signing equipment. 2. The purchasing manager orders all goods and B. Segregate duties C. D. Document procedures E. Independently verify Restrict access services for the business 3. A bank reconciliation is prepared monthly 4. Prenumbered checks are used for all payments 5. The company asks suppliers to deliver their mer- chandise to the warehouse but mail their invoices to the accounting department
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Related Book For
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
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