Two Sales Clerks Not Being Permitted to Share the Same

question 125

Essay

Two sales clerks not being permitted to share the same cash register is an example of the internal control principle of _______________________.

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Definitions:

Unauthorized Signatures

Signatures made without the proper permission or authority, potentially voiding or bringing into question the validity of the document signed.

Alterations

Changes or modifications made to documents, clothing, property, or other objects, often requiring consent or agreement when concerning legal or contractual matters.

Oral Stop Payment Order

A verbal instruction given to a bank requesting that payment on a check or other financial instrument be stopped.

Clearinghouse

An intermediary agency or institution that facilitates the exchange and settlement of financial transactions among different entities.