Question: 4 match the description of the controls with the financial...
4) Match the description of the controls with the financial area the control would pertain to. (some matching items may be used more than once)
A - All check stock must be locked up when not in use.
B - Review all employee advances with the payroll and payables staff at least once per month.
C - Require approval of bad debt writeoffs.
D - Audit shipment terms.
E - Require approval of bad-debt writeoff.
F- Review Uncashed Checks.
G- Audit the receiving dock.
H - Compare capital investment projections to actual results.
I - Require supervisory approval of all borrowings and repayments.
J - Require approval of credits.
K- Perform a physical inventory of plant equipment every three months.
Matching Items Answer Items
B. Accounts Receivable
C. Prepaid Expenses
D. Fixed Assets