Match the principal of internal control to each of the following cases: Cash is locked in a
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Match the principal of internal control to each of the following cases:
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Cash is locked in a safe overnight. A. Bonding employees Employees who receive shipments of goods do not have access to the accounting B. Prenumbered documents records for merchandise C. Independent internal verification ▼ Shipping documents are prenumbered D. Physical controls The bookkeeper does not have physical custody assets E. Human resource controls ▾ Only the treasurer of the company can sign checks F. Establishment of responsibility Insurance protection against misappropriation of assets G. Segregation of duties ▾ Involves the review, comparison, and reconciliation of data prepared by other employees H. Documentation procedures ▾ Prevents a transaction from being recorded more than once ▾ Provide evidence that transactions and events have occurred ▾ Using garment sensors to deter theft ▼ Rotating employees' duties and requiring employees to take vacations ▾ Includes the authorization and approval of transactions ▼ Cash is locked in a safe overnight. A. Bonding employees Employees who receive shipments of goods do not have access to the accounting B. Prenumbered documents records for merchandise C. Independent internal verification ▼ Shipping documents are prenumbered D. Physical controls The bookkeeper does not have physical custody assets E. Human resource controls ▾ Only the treasurer of the company can sign checks F. Establishment of responsibility Insurance protection against misappropriation of assets G. Segregation of duties ▾ Involves the review, comparison, and reconciliation of data prepared by other employees H. Documentation procedures ▾ Prevents a transaction from being recorded more than once ▾ Provide evidence that transactions and events have occurred ▾ Using garment sensors to deter theft ▼ Rotating employees' duties and requiring employees to take vacations ▾ Includes the authorization and approval of transactions ▼
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Answer rating: 100% (QA)
The principles of internal controls should be matched with the given cases as follows Case Internal ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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