The internal control procedures in Dayton Company result in the following provisions. Identify the principles of internal
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Question:
The internal control procedures in Dayton Company result in the following provisions.
Identify the principles of internal control that are being followed in each case.
(a) | Employees who have physical custody of assets do not have access to the accounting records. | Select the principle of internal control | ||
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(b) | Each month, the assets on hand are compared to the accounting records by an internal auditor. | Select the principle of internal control | ||
(c) | A prenumbered shipping document is prepared for each shipment of goods to customers. | Select the principle of internal control |
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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