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Problem 13-09 [LO 13-2] Required: Match the following Internal controls with the categories of control activities. Control Activities a Internal Controls Separate handing cash (receipt
Problem 13-09 [LO 13-2] Required: Match the following Internal controls with the categories of control activities. Control Activities a Internal Controls Separate handing cash (receipt and deposit) functions from record-keeping functions (recording transactions in the accounts receivable subsidiary ledger). 6. 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 t. When opening mail, endorse or stamp checks "For Deposit Only". 9. Periodically reconcile the incoming check log against deposits h Require supervisors to approve employees' time sheets before payrol is prepared List customer checks on a log before turning them over to the person responsible for depositing receipts
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