Which of the following control activities would best protect against the preparation ofimproper or inaccurate cash disbursements?a. All checks must be signed by an officer designated by the board of directors.b. All signed checks must be reviewed and compared with supporting documentation by thetreasurer before mailing.c. All checks must be sequentially numbered and accounted for by internal auditors.d. All checks must be perforated or otherwise effectively canceled when they are returnedwith the bank statement.
Which of the following control activities would best protect against the preparation ofimproper or inaccurate cash disbursements?a. All checks must be signed by an officer designated by the board of directors.b. All signed checks must be reviewed and compared with supporting documentation by thetreasurer before mailing.c. All checks must be sequentially numbered and accounted for by internal auditors.d. All checks must be perforated or otherwise effectively canceled when they are returnedwith the bank statement.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1QY
Related questions
Question
Which of the following control activities would best protect against the preparation of
improper or inaccurate cash disbursements?
a. All checks must be signed by an officer designated by the board of directors.
b. All signed checks must be reviewed and compared with supporting documentation by the
treasurer before mailing.
c. All checks must be sequentially numbered and accounted for by internal auditors.
d. All checks must be perforated or otherwise effectively canceled when they are returned
with the bank statement.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
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.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
