Bujold Company has the following internal controls over cash…

Question Bujold Company has the following internal controls over cash… Bujold Company has the following internal controls over cash payments. Identify the control activity that is applicable to each of the following. 1.  Company cheques are pre-numbered.  select a control activity  Human resource controlsSegregation of dutiesDocumentation proceduresPhysical and IT controlsIndependent checks of performanceEstablishment of responsibility2.  Blank cheques are stored in a safe in the controller’s office.  select a control activity  Human resource controlsSegregation of dutiesEstablishment of responsibilityDocumentation proceduresIndependent checks of performancePhysical and IT controls3.  All employees in the accounting department are required to take vacations each year.  select a control activity  Independent checks of performanceEstablishment of responsibilityHuman resource controlsDocumentation proceduresSegregation of dutiesPhysical and IT controls4.  The bank statement is reconciled monthly by the assistant controller.  select a control activity  Human resource controlsEstablishment of responsibilityPhysical and IT controlsSegregation of dutiesIndependent checks of performanceDocumentation procedures5.  Both the controller and the treasurer are required to sign cheques or authorize EFT.  select a control activity  Physical and IT controlsEstablishment of responsibilityDocumentation proceduresSegregation of dutiesHuman resource controlsIndependent checks of performance6.  Cheque signers are not allowed to record cash payments.   Accounting Business Financial Accounting ACCOUNTING 516 Share QuestionEmailCopy link Comments (0)