Classify the Following Controls as Preventive,detective,or Corrective: Periodic Bank Reconciliation

question 79

Essay

Classify the following controls as preventive,detective,or corrective: Periodic bank reconciliation.Separation of cash and accounting records.Maintaining backup copies of master and transaction files.Pre-numbering of sales invoices.Chart of accounts.Retina scan before entering a sensitive R & D facility.Resubmission of transactions for subsequent processing.Internal auditor rechecking the debits and credits on the payment voucher.Depositing all cash receipts intact.Qualified accounting personnel

---

Definitions:

Politicians

Individuals engaged in directing or influencing government policy and decision-making.

Short-Run Benefits

Advantages or gains received in the immediate future, often without consideration for long-term implications.

Economic Thinking

The process of making decisions based on the efficient allocation of scarce resources.

Personal Benefits

Are advantages or favorable outcomes that accrue directly to an individual as a result of their actions or decisions.