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

Recognize the role of compensating differentials in the labor market.

Comprehend the impact of discrimination on wage disparities.

Discuss the impact of shifts in labor supply and demand on wages.

Explain the concept of signaling in education and its effect on the labor market.

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Definitions:

Operating Activity

Transactions and events related to the primary operations of a business, such as selling products or services.

Revenue Activity

Activities undertaken by a business that result in the earning of income, typically from the sale of goods or provision of services.

Cash Investments

Financial assets such as stocks, bonds, or real estate purchased with the expectation of generating a return on investment.

Statement of Cash Flows

A financial statement detailing the impact of alterations in balance sheet accounts and income on cash and cash equivalents, segmented into operating, investing, and financing activities.