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Accounting Information Systems 8th Edition by James Hall
Edition 8ISBN: 978-1111972141Accounting Information Systems 8th Edition by James Hall
Edition 8ISBN: 978-1111972141 Exercise 87
SEGREGATION OF DUTIES
Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control.
a. Approval of bad debt write-offs and the reconciliation of the accounts receivable subsidiary ledger and the general ledger control account.
b. Distribution of payroll checks to employees and approval of employee time cards.
c. Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger.
d. Writing checks to vendors and posting to the cash account.
e. Recording cash receipts in the journal and preparing the bank reconciliation.
Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control.
a. Approval of bad debt write-offs and the reconciliation of the accounts receivable subsidiary ledger and the general ledger control account.
b. Distribution of payroll checks to employees and approval of employee time cards.
c. Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger.
d. Writing checks to vendors and posting to the cash account.
e. Recording cash receipts in the journal and preparing the bank reconciliation.
Explanation
Verified
Verified
Segregation of Duties
When the control ...
Accounting Information Systems 8th Edition by James Hall
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