Listed Below Is a List of Terms Relating to Internal

question 126

Short Answer

Listed below is a list of terms relating to internal control processes,followed by definitions of those terms.
Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once.
________ 1.Check digit
________ 2.Upstream resubmission
________ 3.Exposure
________ 4.Control register
________ 5.Hash total
________ 6.Internal control questionnaire
________ 7.Physical controls
________ 8.Preventive controls
________ 9.Run-to-run totals
________ 10.General controls
A.These affect all transaction processing
B.An internal control analysis technique
C.A detective control used to determine if input is correct
D.A log indicating the disposition and control values of batches or transactions
E.A detective control use to determine if processing is complete
F.The sum of a batch's preprinted check numbers is an example
G.Segregation of duties is an example
H.A limited access area,for example
I.Business interruption is an example
J.This is an example of a corrective control

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Definitions:

Contractual Liability

The responsibility and obligations that a party is subject to under the terms of a contract.

Without Recourse

A phrase indicating that the holder of a financial instrument cannot demand payment from the originator if the instrument fails to pay.

Indorser

A person or entity that signs the back of a negotiable instrument, thereby transferring ownership or guaranteeing payment to another party.

Negotiable

A term that describes the transferable nature of certain documents or instruments, such as checks, which can be legally and freely passed from one party to another.