Match each of the following cash receipt activities to the internal control prin
ID: 2419780 • Letter: M
Question
Match each of the following cash receipt activities to the internal control principle to which it best relates. Select the appropriate internal control principle from the choice below....
1. A list of checks received in the mail is prepared?
(a. Document procedures b. Establish Responsibility c. Independently Verify d. Restrict Access e. Segregate Duties)
2. Total cash receipts are compared to the amount on the bank deposit slip. (a. Document procedures b.establish responsibility c. Independently varify d. Restricted Access e. Segreate Duties)
3. A password is requred to open the cash register.( a. Document procedures b. establish responsibility c. independently verify d. Restricted Access e. Segreate Duties)
4. Price changes at the checkout require a manager's approval. (a Document procedures b. Establish Responsibility c. Independently Verify d. Restrict Access e. Segregate Duties)
5. Cashiers are required to count the cash in their register at the beginning and end of each shift. (a. Document prcedures b. establish responsibility c. Independently Verify d. Restrict Access e. Segregate Duties)
Explanation / Answer
1) Document Procedure
2) Independently verify
3) restricted access
4) Segregate duties
5) establish responsibility