Listed Below Are Various Controls Found in a System of Internal

question 58

Short Answer

Listed below are various controls found in a system of internal control.
Required: Label each of the following controls as preventive (P),detective (D),or corrective (C).
________ 1.Transaction trail
________ 2.Rotation of duties
________ 3.Reconciliation
________ 4.Visual verification
________ 5.Batch controls
________ 6.Endorsement
________ 7.Redundant processing
________ 8.Training of Personnel
________ 9.Batch balancing
________ 10.Automatic error correction

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Definitions:

Expected Value

The long-term average or mean of a random variable over many trials or occurrences.

Sampling Distribution

The arrangement of probability for a specific statistic, following the analysis of a randomly selected sample.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to make inferences about the population from which the sample was drawn.

Sample Proportion

The quotient of the number of times an event occurs in a sample to the total number of observations in the sample.