Matching
Match each of the following principles of internal control with the appropriate description below.
Premises:
Provide evidence that transactions and events have occurred.
Using garment Sensors to deter theft.
Includes the authorization and approval of transactions.
Involves the review, comparison, and reconciliation of data prepared by other employees.
Related activities should be assigned to different individuals.
Rotating employees' duties and requiring employees to take vacations.
Responses:
Establishment of responsibility
Independent internal verification
Physical controls
Segregation of duties
Human resource controls
Documentation procedures
Correct Answer:
Premises:
Responses:
Provide evidence that transactions and events have occurred.
Using garment Sensors to deter theft.
Includes the authorization and approval of transactions.
Involves the review, comparison, and reconciliation of data prepared by other employees.
Related activities should be assigned to different individuals.
Rotating employees' duties and requiring employees to take vacations.
Premises:
Provide evidence that transactions and events have occurred.
Using garment Sensors to deter theft.
Includes the authorization and approval of transactions.
Involves the review, comparison, and reconciliation of data prepared by other employees.
Related activities should be assigned to different individuals.
Rotating employees' duties and requiring employees to take vacations.
Responses:
Related Questions
Q4: Notification by the bank that a deposited
Q55: An employee authorized to sign checks should
Q86: Physical controls to safeguard assets do not
Q95: Newton Company has recorded the following items
Q135: A system of internal control<br>A) is infallible.<br>B)
Q163: Internal control is defined in part as
Q165: Cash register overages are deposited in the
Q173: Which one of the following would not
Q179: A voucher system is used by many
Q183: The daily cash count of cash register