Define internal control procedures over cash disbursements

Reference no: EM131828341

Question: Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure.

(a) Company checks are prenumbered.

(b) The bank statement is reconciled monthly by an internal auditor.

(d) Only the treasurer or assistant treasurer may sign checks.

(e) Check-signers are not allowed to record cash disbursement transactions.

Reference no: EM131828341

Questions Cloud

Explore the gender gap and gender inequality : Using these statistics, compare each country to one another in terms of gender inequality by discussing the similarities and differences.

Prepare required journal entry based upon cash count sheet : While examining cash receipts information, the accounting department determined the following information: opening cash balance $150, cash on hand $1,125.74.

Analysis and sweat analysis : Can SWOT analysis and SWEAT analysis be used on the same project?

People that have a vested interest in a project : Stakeholders are those people that have a vested interest in a project. What happens when a project negatively affect some stakeholders?

Define internal control procedures over cash disbursements : Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable.

Supporting implementation of ppm in organization : As a project manager develop a strong statement supporting implementation of PPM in your organization.

Analyze the obstacles facing women in the workplace : How do the home and childcare responsibilities of women harm them in the workplace? Is this the same for men/fathers? Why or why not?

What is meant by social capital : What is meant by social capital? What role do strong ties and weak links play in social capital? Give an example if possible

How each item should be shown on a bank reconciliation : The following reconciling items are applicable to the bank reconciliation for Forde Co. Indicate how each item should be shown on a bank reconciliation.

User Account

All Pages