Chapter 9, Problem 9.23BE

Internal Controls. Identify whether the following internal control procedures relate to cash receipts or cash disbursements.

Internal Control Procedure	Cash Receipt?	Cash Disbursement?
All payments must be made by check except for immaterial payments made from petty cash.	_________	_________
Checks can be signed only by authorized individuals.	_________	_________
The summary of checks is sent to the employee in charge of preparing the cash receipts journal	_________	_________
The summary of checks is forwarded to the employee responsible for depositing checks.	_________	_________
Authorization is required prior to preparing a check.	_________	_________
An employee will receive checks, open the envelopes, and prepare a cash receipts summary. The summary should include the customer name, account number, and the amount of the check.	_________	_________