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.
-cheques on recorded amounts
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
Q51: An internal control activity that separates responsibilities
Q55: The foundation of the internal control system
Q56: MATCHING
The accountant for a local manufacturing company
Q59: A cost-cutting measure used in many business
Q60: MATCHING
The accountant for a local manufacturing company
Q62: Match the following terms with their correct
Q64: Choose the proper category of internal control
Q66: Match the following terms with their correct
Q183: The following set of items describes activities
Q195: The following set of items describes activities
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