Match the Principle of Internal Control to Each of the Following

question 68

Short Answer

Match the principle of internal control to each of the following cases.
a) Establishment of responsibility
b) Segregation of duties
c) Accountability for assets
d) Documentation procedures
e) Physical controls
1. Cash is locked in a safe overnight.
2. Employees who receive shipments of goods do not have access to the accounting records for merchandise.
3. Shipping documents are pre-numbered.
4. The bookkeeper does not have physical custody of assets.
5. Only the treasurer of the company can sign checks.

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