Choose the proper category of internal control activities that best matches the following actions. Each action should be matched with a different numbered item within the internal controls list.
-clearly defined authority and responsibility
A) One employee or department should verify the work of another.
B) Specific approval is given by management for the performance of activities.
C) Accounting and cash collections should be properly separated.
D) Blank cheques should be stored in a locked location.
E) .Initial entry into the accounting system should be from a consistent source with complete information.
Correct Answer:
Verified
Q41: Strategic risk assessment is designed to identify,
Q44: Whenever feasible, cash handling activities and cash
Q44: MATCHING
The accountant for a local manufacturing company
Q45: Under the _ Act, management of publicly-traded
Q46: MATCHING
The accountant for a local manufacturing company
Q47: MATCHING
The accountant for a local manufacturing company
Q49: The account used to record the discrepancies
Q53: MATCHING
The accountant for a local manufacturing company
Q57: The practices of delaying payments to suppliers,
Q58: The elapsed time between the purchase of
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