For each internal$$ control, identify the$$ transaction$-$related audit$$ objective$($s$)$ to which it applies.

Internal Control

Transaction$-$related audit objective$($s$)$

$1.$

Checks are signed by the company president, who compares the checks with the underlying supporting documents.

$2.$

Sales invoices are matched with shipping documents by the computer system and an exception report is generated.

$3.$

Receiving reports are prenumbered and accounted for on a daily basis.

$4.$

The accounts receivable master file is reconciled each month to the general ledger.

$5.$

Sales invoices are independently verified before being sent to customers.

$6.$

Payments by check are received in the mail by the receptionist, who lists the checks and restrictively endorses them.

$7.$

Labor hours for payroll are reviewed for reasonableness by the computer system.

$8.$

Unmatched shipping documents are accounted for on a daily basis.

$9.$

The computer system verifies that all payroll payments have a valid employee identification number assigned by the human resources department at the time of hiring.