Question: According to the COSO Internal Control Framework, there are five classifications of control activities. 1. Segregation of Duties 2. Proper approval/authorization 3. Adequate documents
According to the COSO Internal Control Framework, there are five classifications of control activities. 1. Segregation of Duties 2. Proper approval/authorization 3. Adequate documents and records 4. Physical controls over assets and records 5. Independent checks on performance Match each of the following control activities with the correct internal control activity classification listed above. You may use the control activity once, more than once, or not at all. Each control is associated with only one control activity. USE A NUMBER ONLY AS YOUR ANSWER INPUT Customer credit is reviewed and approved before a sale is shipped to the customer. 1.3 and stored at an offsite location. Backups of financial records are made weekly 2.4 3.2 accounted for regularly. Purchase orders are pre-numbered and 4.1 Write-offs of accounts receivable are processed by individuals without access to record sales or cash receipts
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