The Procedures Manual for THM Corporation Included the Following Statements

question 72

Short Answer

The procedures manual for THM Corporation included the following statements:
a.Accounting department employees are encouraged to obtain a professional certification.
b.Adjusting entries involving estimates must have those estimates approved by the CFO before they are recorded in the AIS.
c.All employees accrue sick time at the rate of one hour per month.
d.All purchase orders must be prepared in triplicate, with the original going to the vendor, the blue copy staying in purchasing and the yellow copy returning to department that initiated the purchase request.
e.All transactions must be recorded in the journal, then posted to the ledger.
f.Employees are paid twice a month; journal entries for payroll are recorded two days prior to each pay date.
g.New account numbers must follow the principles of hierarchical coding; they must be reviewed and approved before becoming part of the AIS.
h.THM is organized in five major departments: accounting, marketing, human resources, information systems and operations.
i.THM uses Great Plains Dynamics as its general ledger software.Great Plains will not allow transactions to be recorded unless the equality of debits and credits is maintained.
j.THM's accounting information system is audited annually by Dewey, Cheatam and Howe, CPAs.Which five statements from the procedures manual most directly explain internal controls related to the accounting cycle?