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Can somebody help me answer this questions? Question 1 View Policies Current Attempt in Progress The internal control procedures in Dayton Company result in the
Can somebody help me answer this questions?
Question 1 View Policies Current Attempt in Progress The internal control procedures in Dayton Company result in the following provision Identify the principles of internal control that are being followed in each case. (a) Employees who have physical custody of assets do not have access to the accounting records (b Each month the assets on hand are compared to the accounting records by an internal auditor d! Aprenumbered shipping document is prepared for each shipment of goods to customers Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each procedure. (a) All over-the-counter receipts are entered in cash registers. (b) All cashiers are bonded. (c) Daily cash counts are made by cashier department supervisors. (d) The duties of receiving cash, recording cash, and having custody of cash are assigned to diffdvent individuals. (e) Only cashiers may operate cash registers. Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure. al Company checks are prenumbered. by The bank statement is reconciled monthly by an internal auditor. Blank checks are stored in a safe in the treasurer's office. (d) Only the treasurer or assistant treasurer may sign checks. e Check-signers are not allowed to record cash disbursement transactionsStep by Step Solution
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