WileyPLUS Problem 7 1 Wong has the following internal controls over cash receipts and cash payments Your answer is partially correct Try again Identify the control activity that is applicable to each item in the table shown below Activity 1 All cash is deposited intact, in the bank account, daily Establishment of ResponsibilityDocumentation ProceduresPhysical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource Controls 2 Blank cheques are stored in a safe in the controllers office Physical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource ControlsDocumentation ProceduresEstablishment of Responsibility 3 All cashiers are bonded Documentation ProceduresIndependent Checks of PerformanceSegregation of DutiesPhysical and IT ControlsHuman Resource ControlsEstablishment of Responsibility 4 All over the counter receipts are recorded on cash registers Physical and IT ControlsSegregation of DutiesEstablishment of ResponsibilityDocumentation ProceduresIndependent Checks of PerformanceHuman Resource Controls 5 All payments, except for petty cash transactions, are made by cheque Human Resource ControlsEstablishment of ResponsibilitySegregation of DutiesDocumentation ProceduresPhysical and IT ControlsIndependent Checks of Performance 6 Cheque signers are not allowed to record cash payment transactions Human Resource ControlsIndependent Checks of PerformanceDocumentation ProceduresEstablishment of ResponsibilitySegregation of DutiesPhysical and IT Controls 7 Company cheques are pre numbered Independent Checks of PerformancePhysical and IT ControlsDocumentation ProceduresEstablishment of ResponsibilityHuman Resource ControlsSegregation of Duties 8 Daily cash counts are made by cashier department supervisors Documentation ProceduresPhysical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource ControlsEstablishment of Responsibility 9 Only cashiers may operate cash registers Physical and IT ControlsIndependent Checks of PerformanceHuman Resource ControlsEstablishment of ResponsibilityDocumentation ProceduresSegregation of Duties 10 Only the controller or assistant controller may sign cheques Physical and IT ControlsIndependent Checks of PerformanceHuman Resource ControlsEstablishment of ResponsibilitySegregation of DutiesDocumentation Procedures 11 The bank statement is reconciled monthly by an internal auditor Physical and IT ControlsSegregation of DutiesDocumentation ProceduresIndependent Checks of PerformanceHuman Resource ControlsEstablishment of Responsibility 12 The duties of receiving cash, recording cash, and maintaining custody of cash are assigned to different individuals Documentation ProceduresSegregation of DutiesEstablishment of ResponsibilityIndependent Checks of PerformanceHuman Resource ControlsPhysical and IT Controls

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WileyPLUS Problem 7-1 Wong has the following internal controls over cash receipts and cash payments. Your answer is partially correct. Try again. Identify the control

WileyPLUS Problem 7-1

Wong has the following internal controls over cash receipts and cash payments.


	Your answer is partially correct. Try again.

Identify the control activity that is applicable to each item in the table shown below:

		Activity
1	All cash is deposited intact, in the bank account, daily.	Establishment of ResponsibilityDocumentation ProceduresPhysical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource Controls
2	Blank cheques are stored in a safe in the controllers office.	Physical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource ControlsDocumentation ProceduresEstablishment of Responsibility
3	All cashiers are bonded.	Documentation ProceduresIndependent Checks of PerformanceSegregation of DutiesPhysical and IT ControlsHuman Resource ControlsEstablishment of Responsibility
4	All over-the-counter receipts are recorded on cash registers.	Physical and IT ControlsSegregation of DutiesEstablishment of ResponsibilityDocumentation ProceduresIndependent Checks of PerformanceHuman Resource Controls
5	All payments, except for petty cash transactions, are made by cheque.	Human Resource ControlsEstablishment of ResponsibilitySegregation of DutiesDocumentation ProceduresPhysical and IT ControlsIndependent Checks of Performance
6	Cheque signers are not allowed to record cash payment transactions.	Human Resource ControlsIndependent Checks of PerformanceDocumentation ProceduresEstablishment of ResponsibilitySegregation of DutiesPhysical and IT Controls
7	Company cheques are pre-numbered.	Independent Checks of PerformancePhysical and IT ControlsDocumentation ProceduresEstablishment of ResponsibilityHuman Resource ControlsSegregation of Duties
8	Daily cash counts are made by cashier department supervisors.	Documentation ProceduresPhysical and IT ControlsIndependent Checks of PerformanceSegregation of DutiesHuman Resource ControlsEstablishment of Responsibility
9	Only cashiers may operate cash registers.	Physical and IT ControlsIndependent Checks of PerformanceHuman Resource ControlsEstablishment of ResponsibilityDocumentation ProceduresSegregation of Duties
10	Only the controller or assistant controller may sign cheques.	Physical and IT ControlsIndependent Checks of PerformanceHuman Resource ControlsEstablishment of ResponsibilitySegregation of DutiesDocumentation Procedures
11	The bank statement is reconciled monthly by an internal auditor.	Physical and IT ControlsSegregation of DutiesDocumentation ProceduresIndependent Checks of PerformanceHuman Resource ControlsEstablishment of Responsibility
12	The duties of receiving cash, recording cash, and maintaining custody of cash are assigned to different individuals.	Documentation ProceduresSegregation of DutiesEstablishment of ResponsibilityIndependent Checks of PerformanceHuman Resource ControlsPhysical and IT Controls