Question: Required: For each scenario, determine which control activity is violated. Control activities include separation of duties, physical controls, proper authorization, employee management, reconciliations, and performance
Required: For each scenario, determine which control activity is violated. Control activities include separation of duties, physical controls, proper authorization, employee management, reconciliations, and performance reviews. If no control activity is violated, state ?none.? E4?5 Below are several amounts reported at the end of the year. Currency located at the company $1,050 Supplies 3,200 Short-term investments that mature within three months 1,950 Accounts receivable 3,500 Balance in savings account 8,500 Checks received from customers but not yet deposited 650 Prepaid Rent 1,450 Coins located at the company Equipment 9,400 Balance in checking account 6,200 Required: For each scenario, determine which control activity is violated. Control activities include separation of duties, physical controls, proper authorization, employee management, reconciliations, and performance reviews. If no control activity is violated, state ?none.? E4?5 Below are several amounts reported at the end of the year. Currency located at the company $1,050 Supplies 3,200 Short-term investments that mature within three months 1,950 Accounts receivable 3,500 Balance in savings account 8,500 Checks received from customers but not yet deposited 650 Prepaid Rent 1,450 Coins located at the company Equipment 9,400 Balance in checking account 6,200
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