Identify What Category of Control Activity Each of the Following

question 14

Essay

Identify what category of control activity each of the following belong to:
1.Management reviews the sales of each salesperson on a monthly basis.
2.Access to the cash office is restricted by entry code.
3.There is an automated stop placed on payroll if the amounts entered exceed a certain reasonable amount.
4.Authority to approve credit is the responsibility of the cash office, not the sales department.
5.All sales are processed on a cash register which produces receipts and a journal roll for the office.
6.Before new information systems are approved they are extensively tested for weaknesses.
7.When entering data the system will prompt for an entry if there is an empty or incomplete field.
8.Management reviews the actual versus budget report each week.

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Definitions:

Financing

The process of providing funds for business activities, making purchases, or investing.

Small Businesses

Enterprises characterized by a small number of employees, limited revenue, and relatively smaller scale of operations.

High Cost

A situation or item that requires a substantial amount of financial resources or expenditure.