Match the items below by choosing the appropriate code letter in the space provided.
-Segregation of duties.
A) Sales journal
B) Special journal
C) Control account
D) Subsidiary ledger
E) Cash payments journal
F) Integrated accounting system
G) Manual accounting system
H) Purchases journal
I) Schedule of accounts receivable
J) Pre-numbered documents
K) Collusion
L) Television monitors, garment sensors and burglar alarms are examples
M) Custody of an asset should be kept separate from the record-keeping for that asset

Question

Quizplus · Accepted Answer

Segregation of duties is a key internal control principle that ensures that the responsibility for custody of assets is separate from the responsibility for maintaining the records of those assets, to prevent fraud and errors.

Match the Items Below by Choosing the Appropriate Code Letter