Please match the internal control procedure to the error, misstatement or other

Question

Please match the internal control procedure to the error, misstatement or other problem that its is trying to detect or prevent.

Duties are segregated between the cash payments and cash receipts functions.

The separation of duties is meant to safeguard assets

Signature plates are kept under lock and key.

Prevention of unauthorized use.

Accounting department matches invoices to receiving reports or special authorizations before payment.

Ensures payment for goods or services actually received.

The accounting department matches invoices to copies of purchase orders.

D. Ensures that disbursements are made only for authorized purchases.

To assure that checks are issued to employees only.

Bank reconciliations are performed by someone other than the one who writes the checks and handles cash.

Separation of functions prevents one person from diverting cash assets and subsequently concealing the wrongdoing.

A.

The separation of duties is meant to safeguard assets

Please match the intemal control procedure to the error, misstatement cr other problem that its is tyn E7Duties are segregated between the cash payments and cash receipts functions A. The separation of duties is meant to safeguard assets B Prevention of unauthorized use. C. Ensures payment for goods or services actually received D. Ensures that disbursements are made only for authorized purchases Signature plates are kept under lock and key . Accounting department matches invoices to rec erving reports or specal author zat ons before pr ment The accounting department matches invoices to copies of purchase orders. Imprest accounts are used for payroll Bank reconcliations are performed by someona other than the one who wtes the checks and handles cash E. To assure that checks are issued to employoes only F Separation of functions prevents one person from diverting cash assets and subsequently concealing tho wrongdoing Click Save and Submit to save and submit. Cel Sae All Aswers to saze elansuwers Save A Answers

Explanation / Answer

The accounting department matches invoices to copies of purchase orders.

Note : The answer pasted along with the question above is correctly matched.

Duties are segregated between the cash payments and cash receipts functions. A.The separation of duties is meant to safeguard assets. Signature plates are kept under lock and key. B. Prevention of unauthorized use. Accounting department matches invoices to receiving reports or special authorizations before payment. C. Ensures payment for goods or services actually received.

The accounting department matches invoices to copies of purchase orders.

D. Ensures that disbursements are made only for authorized purchases. Imprest accounts are used for payroll E. To assure that checks are issued to employees only. Bank reconciliations are performed by someone other than the one who writes the checks and handles cash. F. Separation of functions prevents one person from diverting cash assets and subsequently concealing the wrongdoing.

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