Listed below are seven errors or problems that might occur in the processing of cash transactions. Also shown is a list of internal control principles. Evaluate each possible error and cite a principle that is listed that would reduce the probability of the error occurring. If none of the principles given will correct the problem, write 'None'. If you think more than one principle is appropriate, list all principles that apply.
Possible errors or problems:
-Each cashier counts their own register drawer each day and verbally reports the results to the supervisor.
A) Establishment of responsibility
B) Segregation of duties
C) Physical, mechanical and electronic control devices
D) Documentation procedures
E) Independent internal verification
F) Other controls

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The Answer of Listed below are seven errors or problems that might occur in the processing of cash transactions. Also shown is a list of internal control principles. Evaluate each possible error and cite a principle that is listed that would reduce the probability of the error occurring. If none of the principles given will correct the problem, write 'None'. If you think more than one principle is appropriate, list all principles that apply.
Possible errors or problems:
-Each cashier counts their own register drawer each day and verbally reports the results to the supervisor.
A) Establishment of responsibility
B) Segregation of duties
C) Physical, mechanical and electronic control devices
D) Documentation procedures
E) Independent internal verification
F) Other controls

Listed Below Are Seven Errors or Problems That Might Occur