Choose the proper category of internal control activities that best matches the following actions. Each action should be matched with a different numbered item within the internal controls list.
-Safeguards over assets and records
A)One employee or department should verify the work of another.
B)Specific approval is given by management for the performance of activities.
C)Accounting and cash collections should be properly separated.
D)Blank checks should be stored in a locked location.
E)Initial entry into the accounting system should be from a consistent source with complete information.

Question

Quizplus · Accepted Answer

Safeguards over assets and records are measures taken to protect the company's assets, including physical security and access controls. Storing blank checks in a locked location (D) directly relates to protecting assets from unauthorized access or theft, fitting the category of safeguards over assets and records.

Choose the Proper Category of Internal Control Activities That Best