Business, 06.05.2020 03:18 orlando19882000

Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure.

(a) Company checks are prenumbered.
(b) The bank statement is reconciled monthly by an internal auditor.
(c) Blank checks are stored in a safe in the treasurer’s office.

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Answer from: robert7248

a) Documentation Procedures

b) Independent Internal Verification

c) Physical Control

Explanation:

I'll list the internal control principle in bold letters and then explain them a little.

(a) Company checks are prenumbered. DOCUMENTATION PROCEDURES.

These are meant to provide a paper trail to identify the events that occur in a company and pre numbering check ensures that the number is always known.

(b) The bank statement is reconciled monthly by an internal auditor. INDEPENDENT INTERNAL VERIFICATION.

Here the company runs its own checks and balances to ensure that they are in good shape.

This refers to the use of physical devices to keep documents and assets safe and can include safes, vaults and safety deposit boxes.

Answer from: Quest

Via: "if you are found to be supplying or dealing drugs, the punishment is likely to be tough. supplying drugs doesn’t just apply to dealers. if police suspect that you intend to share drugs with your friends, this is still considered to be supplying.

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are:

- up to life in prison or an unlimited fine (or both) for a class a drug- up to 14 years in prison or an unlimited fine (or both) for a class b or class c drug."sorry if this was a school question, you didnt supply options so i assumed it was a personal question, which if it is, reconsider selling or having possesion of any drugs at all. i wish you the best!

Answer from: Quest

Planning,organizing, leading, and controlling.

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Tott Company has the following internal control procedures over cash disbursements. Identify the int...

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