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Below Are the Six Internal Control Objectives

question 18

Short Answer

Below are the six internal control objectives.
A) Validity
B) Completeness
C) Authorization
D) Accuracy
E) Classification
F) Proper period cutoff
For each of the following control procedures, identify the internal control objective that applies and place the correct letter in the space provided.
____ 1. Match shipping documents to sales invoices before recording the transaction in the sales journal.
____ 2. Ensure that the sales invoices are recorded in the correct month.
____ 3. The sales manager must approve any discounts taken after the discount period.
____ 4. Compare the quantity shipped per the shipping documents to the quantity billed per the sales invoice, check prices to approved price lists, and recalculate extensions and totals before the recording the sale.
____ 5. Account for numerical sequence of pre-numbered shipping documents.

Definitions:

Leader Behaviors

Actions and attitudes displayed by leaders that influence their group's performance, morale, and effectiveness.

Expectancy Theory

A motivational theory suggesting that individuals are likely to act in a certain way based on the expectation that the act will be followed by a desired outcome.

Path-goal Leadership

A theory that suggests leaders should adjust their style to fit the developmental and psychological needs of their followers to achieve the desired goal.

Follower Characteristics

The traits or qualities of individuals who are led by others, which can influence the leadership process.