Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

-1 Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each

image text in transcribed

image text in transcribed

-1 Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each match. Therefore, you should have two letters left over from List 1. List 1 -Concepts A. Application (i.e., qutomated) control B. Corrective control C. Control environment D. Input validity E. Input completeness F. Efficient use of resources G. Business process (i.e., manual) control H. Preventive control L. Detective control J. Input accuracy K. Update completeness L. Update accuracy List 2-Definitions/Descriptions 1. Insurance policy reimburses a company for losses due to a fire in a warehouse. 2. Shipping notices have a serial number that is tracked to ensure that they are all input. 3. Computer reviews each input to ensure that all required data are inchaded. 4. Inventory movements are tracked with a scanner to reduce manual counting. 5. Purchase orders are signed by the purchase order supervisor to approve the purchase. 6. Computer operators verify dates and serial numbers of master data stores to ensure that the proper version is used. 7. Count inventory items every year to ensure that inventory reconds are accurate. 8. A clerk takes the received payment checks to the bank at the end of the day. 9. Visitors must be approved by a security guard before entering a building. 10. A code of conduct must be read and signed by all new employees

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students explore these related Accounting questions