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Match the following internal controls with the categories of control activities. LO 11-20 connect Page 298 Internal Controls Control Activities i. Authorization ii. Segregation of
Match the following internal controls with the categories of control activities. LO 11-20 connect Page 298 Internal Controls Control Activities i. Authorization ii. Segregation of duties a. Separate handling cash (receipt and deposit) functions from record-keeping functions (recording transactions in the accounts receivable subsidiary ledger). b. Require purchases, payroll, and cash disbursements to be authorized by a designated person. c. Require accounting department employees to take vacations. d. Separate purchasing functions from payables functions. e. Ensure that the same person isn't authorized to write and sign a check. f. When opening mail, endorse or stamp checks "For Deposit Only. g. Periodically reconcile the incoming check log against deposits. h. Require supervisors to approve employees' time sheets before payroll is prepared. i. List customer checks on a log before turning them over to the person responsible for depositing receipts. iii. Supervision iv. Accounting documents and records v. Access control vi. Independent verification
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