Allowing only the treasurer to sign checks is an example ofGroup of answer choicesestablishment of responsibility.segregation of duties.other controls.documentation procedures.

Allowing only the financial controller to sign cheques is an example of: Group of answer choices separation of duties. establishment of responsibility. other controls. documentation procedures.

The principle of establishing responsibility does not includeGroup of answer choicesone person being responsible for one task.approval of transactions.independent internal verification.authorization of transactions.

An accounts payable clerk also has access to the approved supplier master file for purchases. The control principle ofGroup of answer choicesestablishment of responsibility is violated.independent internal verification is violated.documentation procedures is violated.segregation of duties is violated.

Select all that applyGiven the choices below, choose the examples of internal controls designed to control cash payments.Multiple select question.Use of a voucher system.The person in charge of purchasing and receiving should be the only person authorized to pay.Only authorized individuals should be allowed to sign checks.Use of a petty cash system.All payments should be made by check.

The controller's responsibilities are primarily          in nature, while the treasurer's responsibilities are primarily related to         .