The internal control procedures in Dayton Company result in the following provisions.Identify the principles of internal control that are being followed in each case. (a) Employees who have physical custody of assets do not have access to the accounting records. Select the principle of internal control Human resource controlsSegregation of dutiesEstablishment of responsibilityPhysical controlsIndependent internal verificationDocumentation procedures (b) Each month, the assets on hand are compared to the accounting records by an internal auditor. Select the principle of internal control Establishment of responsibilityHuman resource controlsPhysical controlsIndependent internal verificationDocumentation proceduresSegregation of duties (c) A prenumbered shipping document is prepared for each shipment of goods to customers. Select the principle of internal control Human resource controlsIndependent internal verificationEstablishment of responsibilitySegregation of dutiesDocumentation proceduresPhysical controls

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7A: Internal Controls

Section: Chapter Questions

Problem 2SEB

See similar textbooks

Related questions

Question

The internal control procedures in Dayton Company result in the following provisions.

Identify the principles of internal control that are being followed in each case.

(a)	Employees who have physical custody of assets do not have access to the accounting records.	Select the principle of internal control Human resource controlsSegregation of dutiesEstablishment of responsibilityPhysical controlsIndependent internal verificationDocumentation procedures
(b)	Each month, the assets on hand are compared to the accounting records by an internal auditor.	Select the principle of internal control Establishment of responsibilityHuman resource controlsPhysical controlsIndependent internal verificationDocumentation proceduresSegregation of duties
(c)	A prenumbered shipping document is prepared for each shipment of goods to customers.	Select the principle of internal control Human resource controlsIndependent internal verificationEstablishment of responsibilitySegregation of dutiesDocumentation proceduresPhysical controls

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions