Match the Internal Control Principle Below with the Appropriate Cash

question 168

Short Answer

Match the internal control principle below with the appropriate cash disbursements procedure described.
a. Establishment of responsibility
b. Segregation of duties
c. Documentation procedures
d. Physical controls
e. Independent internal verification
f. Human resource controls
_____ 1. Compare checks to invoices.
_____ 2. Different individuals approve and make payments.
_____ 3. Print check amounts by machine with indelible ink.
_____ 4. Only designated personnel are authorized to sign checks.
_____ 5. Each check must have approved invoice.
_____ 6. Requiring employees to take vacations.

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Definitions:

Job M

A specific production or project operation identified by a unique job number for costing purposes.

Overhead Applied

Overhead applied refers to the allocation of indirect costs to specific products or production areas based on a predetermined rate or method.

Job A578

A specific project or task within an organization, identified by the code A578 for tracking and cost allocation purposes.

Predetermined Manufacturing Overhead

The estimated cost of manufacturing overhead assigned to each unit of production, based on a predetermined rate.