Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control. a. Approval of bad debt write-offs and the reconciliation of the accounts receivable subsidiary ledger and the general ledger control account. b. Distribution of payroll checks to employees and approval of employee time cards. c. Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger. d. Writing checks to vendors and posting to the cash account. e. Recording cash receipts in the journal and preparing the bank reconciliation.

Q: Which of the following is NOT an issue with the Bradmark internal controls as it pertains to the…

A:

Q: Which of the following internal controls is a common detective control over cash and cash…

A: Internal control  is implemented, to maintain effectiveness, efficiency, ,follow the policies,…

Q: Which of the following is an example of detective controls? a. The company should establish formal…

A: Definition: Control activities: Control activities help the management to have a proper control over…

Q: The mailroom employees send all remittances and remittance advices to the cashier. The cashier…

A:

Q: ich of the following procedures would an auditor most likely perform to test trols relating to…

A: The given scenario relates with cash receipts. To check the authenticity of the transaction the…

Q: At Carlson Services, the cashier collects checks and cash from customers, and the junior accountant…

A: Internal control procedures are a set of policies and practices implemented by an organization to…

Q: Each situation below describes an internal control weakness in the cash receipts process.…

A: Given: Each situation below describes an internal control weakness in the cash receipts process. To…

Q: Which of the following does not demonstrate internal control practices? a. Allowing access of…

A: Internal control is a set of measures instituted by management and designed to help. achieve the…

Q: Which of the following controls will help prevent skimming? a. The accounts receivable bookkeeper’s…

A: Skimming is a Fraud on cash receipt, where cash is stolen before recording it into books of accounts…

Q: Which of the following is a preventive control?a. Reconciliation of a bank account.b. Recalculation…

A: Definition: Prevention control: Prevention control is an activity undertaken to avoid or prevent the…

Q: Which of the following controls would best prevent the lapping of accounts receivable?a. Segregate…

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: Which of the following is a good internal control for cash payments? A.Payments to suppliers should…

A: the objective of the internal control for the gas this was meant is to ensure that gas is given only…

Q: Which of the following control activities would best protect against the preparation ofimproper or…

A: Cash Budget: This budget gives an estimation of all the cash inflows and outflows of a business for…

Q: Rosenquist Company has the following internal control procedures over cash receipts. Identify the…

A: The principles of internal control are the concepts that require management to set procedures in…

Q: Which of the following is not an example of control procedures to safeguard cash received from…

A: Cash is one of the important current asset of the business. It's management and valuation is very…

Q: Explain why each of the following combinations of tasks should, or should not, be separated to…

A: Ethics:   Business ethics refers to a set of moral codes and guidelines that governs corporate…

Q: An accounting information system comprises five generic parts. Which of the following gives an…

A: Internal control is defined as the procedure and process used by the company to- safeguard assets…

Q: 4. SEGREGATION OF DUTIES Explain why each of the following combinations of tasks should or should…

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: At Emerson Company, one bookkeeper prepares the cash deposits while the other bookkeeper enters the…

A: Segregation of Duties is a one of the methods of sustainable risk management and internal controls…

Q: ties of Internal IT Developer of company is to write application programs and then perform required…

A: Segregation of duties refers to the internal control design made to disperse the duties in order to…

Q: Explain why each of the following combinations of tasks should or should no be separated to achieve…

A: Solution:- a)Approval of bad debt write-offs and the reconciliation of the AR subsidiary ledger and…

Q: 1. Assignment of responsibility 2. Segregation of duties 3. Documentation 4. Physical controls 5.…

A: Control Activities:- Activities that are performed by the management in order to control and…

Q: Which of the following is not a generally recognized internal control activity? Oa. limiting access…

A: Internal controls -  internal controls are the policies and procedures laid down by the management…

Q: Explain why each of the following combinations of task should or should not be separated to achieve…

A: The approval and write-offs of bad debt and reconciliation of account receivable and general control…

Q: Which of the following is an effective internal control for cash payments? A.Payments should be…

A: Cash is one of the important current asset of the business. It's valuation and management is very…

Q: Below are descriptions of internal control problems. In the space to the left of each item, enter…

A: Internal control refers to the policies and plans of the business organization along with other…

Q: Explain why each of the following combinations of tasks should or should not be separated to achieve…

A: Ethics: Business ethics refers to a set of moral codes and guidelines that governs corporate…

Q: A company employs three accounts payable clerks and one treasurer. Their responsibilities are as…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Which of the following reflects a weak internal control system? Please explain with full…

A: In order to maintain a strong internal control in the organization, the organization must follow the…

Q: Good internal controls include upon receiving checks from customers by mail, a responsible employee…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Which of the following internal control activities most likely would deter lapping of collections…

A: Internal Control: Internal control is a mechanism or procedure that the company implements so that…

Q: Which of the following controls would be most effective in detecting a failure torecord cash…

A: Meaning of Internal Control Internal controls are the activities which an organization implements to…