Accounting Information Systems
9th Edition
ISBN: 9781133934400
Author: James A. Hall
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 7MCQ
To determine
Identify the duties which are incompatible for a cash disbursement clerk.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which duties should be segregated? a. matching purchase requisitions, receiving reports, and invoices and authorizing payment b. authorizing payment and maintaining the check register c. writing checks and maintaining the check register d. authorizing payment and maintaining the accounts payable subsidiary ledger
Which statement is NOT correct for an expenditure system with proper internal controls?a. Cash disbursements maintain the check register.b. Accounts payable maintains the accounts payable subsidiary ledger.c. Accounts payable is responsible for paying invoices.d. Accounts payable is responsible for authorizing invoices.
1. Why should the function of requisitioning the purchase of goods be segregated from the function of issuing purchase orders?
2. Explain how an automated matching process works regarding the payment of accounts payable
3. What control objective is addressed by having prenumbered receiving documents
Chapter 5 Solutions
Accounting Information Systems
Ch. 5 - Prob. 1RQCh. 5 - What purpose does a purchasing department serve?Ch. 5 - Prob. 3RQCh. 5 - Prob. 4RQCh. 5 - Prob. 5RQCh. 5 - Prob. 6RQCh. 5 - Prob. 7RQCh. 5 - Prob. 8RQCh. 5 - Prob. 9RQCh. 5 - Some organizations do not use an AP subsidiary...
Ch. 5 - What is the purpose of the blind copy of a PO?Ch. 5 - Prob. 12RQCh. 5 - Prob. 1DQCh. 5 - Prob. 2DQCh. 5 - Prob. 3DQCh. 5 - The level of day-to-day department activity in...Ch. 5 - Prob. 5DQCh. 5 - What is central to a successful EDI...Ch. 5 - Discuss the objective of eliminating the receiving...Ch. 5 - What purpose does multilevel security control play...Ch. 5 - Prob. 9DQCh. 5 - Prob. 10DQCh. 5 - Prob. 1MCQCh. 5 - Prob. 2MCQCh. 5 - Prob. 3MCQCh. 5 - Prob. 4MCQCh. 5 - Prob. 5MCQCh. 5 - Prob. 6MCQCh. 5 - Prob. 7MCQCh. 5 - Prob. 8MCQCh. 5 - Prob. 9MCQCh. 5 - Prob. 10MCQCh. 5 - Prob. 1PCh. 5 - INVENTORY ORDERING ALTERNATIVES The flowchart for...Ch. 5 - Prob. 3PCh. 5 - Prob. 4PCh. 5 - Prob. 5PCh. 5 - Prob. 6PCh. 5 - Prob. 7PCh. 5 - Prob. 8PCh. 5 - Prob. 9PCh. 5 - Prob. 10PCh. 5 - Prob. 11PCh. 5 - SMITHS MARKET (SMALL BUSINESS ACCOUNTING SYSTEM)...Ch. 5 - Prob. 2ICCCh. 5 - Prob. 3ICCCh. 5 - Prob. 4ICCCh. 5 - Prob. 5ICCCh. 5 - GREEN POND NURSERY (STANDALONE PC-BASED ACCOUNTING...Ch. 5 - Prob. 7ICCCh. 5 - Prob. 8ICC
Knowledge Booster
Similar questions
- 1. An effective system of internal control requires segregation of basic functions. Which three of the following functions should ideally be segregated? Explain details A. Authorisation of orders B. Recording cash receipts on receivables ledger C. Invoicing D. Credit control E. Reconciliation of receivables ledger with receivables ledger control accountarrow_forwardWhat are the steps taken to ensure control over purchases and payments by check?arrow_forwardExplain, on what criteria or by what internal controls in place, where Billing could be responsible for issuing invoices, sales journal, AR update (for both billing and payment received).arrow_forward
- which of the following account will be least likely involved in the purhasing sub-process of the purchasing and disbursement cycle? a. proper authorization of purchases b. timely recording of transactions including independent review c. proper authorization of disbursements d. segragration of duties between the credit department and custodyarrow_forwardSuggest Four reasons why there might be difference between the balance on the receivable ledger control account and the total list of the list of accounts receivable ledger balances?arrow_forwardWhat is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? c. Direct deposit of paychecks.arrow_forward
- A basic procedure of internal control over cash receipts is that the deposit of the cash and the recording of the receipts into the journal should be separated. a. True b. Falsearrow_forwardWhy must the Accounts Receivable account in the general ledger match the totals of all the subsidiary Accounts Receivable accounts?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College PubCentury 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage