Identify the Internal Control Procedures Applicable to Cash Disbursements Followed

question 193

Essay

Identify the internal control procedures applicable to cash disbursements followed by Tolan Company in each of the following cases.
1. Company checks are pre-numbered.
2. Only the treasurer is authorized to sign checks.
3. Bonding of employees that handle cash.
4. Blank checks are stored in a locked safe.
5. The bookkeeper, not the treasurer, records cash disbursements.

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Definitions:

Self-monitoring System

A psychological framework by which individuals regulate their behavior based on social cues and perceptions.

Self-esteem

An individual's subjective evaluation of their own worth and capabilities.

Ideal Self

The perception of what an individual aspires to be, shaped by personal goals, values, and societal expectations.

Behavioural Anchor Referent

A reference point or standard used to guide or stabilize behavior, often based on past experiences or societal norms.