Internal Control: Internal controls are policies and procedures implemented by an organization to attain operational goals and maintain the integrity of accounting. Internal Control system has its five integral components those together works an effective internal control. To Indicate: The Correct match for each of the given term with the definition or example.

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Question 5 Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control. Approval of bad debt write-offs and the reconciliation of the accounts receivablesubsidiary ledger and the general ledger control account. Distribution of payroll checks to employees and approval of employee time cards. c. Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger. Writing checks to vendors and posting to the cash account. Recording cash receipts in the journal and preparing the bank reconciliation

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Chapter 4, Problem 41E

To determine

Concept Introduction:

Internal Control:

Internal controls are policies and procedures implemented by an organization to attain operational goals and maintain the integrity of accounting. Internal Control system has its five integral components those together works an effective internal control.

To Indicate:

The Correct match for each of the given term with the definition or example.

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Question 5 Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control. Approval of bad debt write-offs and the reconciliation of the accounts receivablesubsidiary ledger and the general ledger control account. Distribution of payroll checks to employees and approval of employee time cards. c. Posting of amounts from both the cash receipts and the cash disbursements journals to the general ledger. Writing checks to vendors and posting to the cash account. Recording cash receipts in the journal and preparing the bank reconciliation

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