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Match the Internal Control Principle Below with the Appropriate Cash

Question 232

Matching

Match the internal control principle below with the appropriate cash disbursements procedure described.

Premises:
Each check must have approved invoice.
Requiring employees to take vacations.
Different individuals approve and make payments.
Compare checks to invoices.
Print check amounts by machine with indelible ink.
Only designated personnel are authorized to sign checks.
Responses:
Establishment of responsibility
Independent internal verification
Segregation of duties
Human resource controls
Physical controls
Documentation proce dures

Correct Answer:

Each check must have approved invoice.
Requiring employees to take vacations.
Different individuals approve and make payments.
Compare checks to invoices.
Print check amounts by machine with indelible ink.
Only designated personnel are authorized to sign checks.
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