Match the Action with the Category of Internal Control Procedures

question 174

Multiple Choice

Match the action with the category of internal control procedures
-Proper authorization

• A)One department should check on another
• B)Internal audit staff ensure all is working as intended
• C)Accounting and cash collection is properly separated
• D)Blank checks are locked at all times when not in use
• E)Origination of initial entry into accounting system
• F)Specific authority is given by management for the performance of activities.

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Definitions:

Projected Output Rate

An estimated rate of production for future periods based on current data and trends, forecasting the volume of output.

Record Accuracy

The degree to which records are complete, correct, and reliable.

MRP

Material Requirements Planning, a system for inventory and production planning that ensures materials and products are available for production and delivery to customers.

Successful MRP

Refers to the effective implementation and management of Material Requirements Planning, a system for efficiently managing the manufacturing process through inventory control and production scheduling.