Solved

Match the Cash Disbursements Procedure Described with the Internal Control

Question 242

Matching

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

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

Correct Answer:

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

Q221: Medaid is a medical office management franchise.

Q222: Cash equivalents under GAAP
A) may be required

Q239: Match the statements below with the appropriate

Q240: Listed below are items that may be

Q241: indicate how each of the items listed

Q243: Match the cash receipts procedure described below

Q244: Listed below are seven errors or problems

Q245: Below are descriptions of internal control problems

Q246: Match each description to the following principles

Q247: Match the following cases to the the

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents