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6) A restrictive endorsement is a type of internal control. A restrictive endorsement: a) Provides the bank with specific instructions that limit the use of
6) A restrictive endorsement is a type of internal control. A restrictive endorsement:
a) Provides the bank with specific instructions that limit the use of an endorsed check, for example stamping the check For deposit only.
b) Ensure separation of duties during the endorsing cycle through documenting procedures and separation of duties.
c) Requires two people to sign a check over a stated amount.
d) Limits or restricts the amount for which a check can be written.
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