Six principles of internal accounting control are identified in the chapter. Listed below are specific control procedures:

1. Use of cash registers for over-the-counter cash receipts.

2. Different individuals approve the payroll, write the payroll checks, and distribute the checks.

3. Checks are prenumbered.

4. Bank statements are independently reconciled each month.

5. Credit is approved by the credit department prior to sale.

6. A chart of accounts is maintained.

7. Inventory is stored in locked warehouses.

8. A voucher system is used.

9. Material requisitions are required to withdraw raw materials from the storeroom.

10. Control accounts and subsidiary ledgers are periodically agreed.

Required:

a. Identify the internal control principle to which each procedure relates.

b. Give two other examples of each type of internal control principle.