Identify/Classify the following controls as Preventive (P), Detective (D) or Corrective . Explain your answers.

1.Annual physical inventory

2.Monthly reconciliation of bank account

3.Segregation of duties over purchasing

4.Supervisory approval of time cards

5.Dual signatures for checks

6.Adjustment of perpetual inventory records to physical counts

7.Management review of budget/actual information

Internal audits of payroll