139. Match each of the following transactions with the applicable internal control principle. 1. A company uses a check protector. Establish responsibility. 2. A company has...

1. A company uses a check protector.

Establish responsibility.

2. A company has separate departments for purchasing, receiving and accounts payable.

Divide responsibility for related transactions.

3. A company buys an insurance policy to protect against employee theft.

Establish responsibility.

4. A company uses a computerized point of sale system.

Separate recordkeeping from custody of assets.

5. A company uses a voucher system.

Apply technological controls.

6. A company hires CPAs to perform an audit.

Perform regular and independent reviews.

7. No two clerks share the same cash drawer.

Insure assets and bond employees.

8. A company has an internal auditor on staff.

Divide responsibility for related transactions.

9. Cashier does not have access to the cash register recorded tape or file.

Perform regular and independent reviews.

10. The bookkeeper prepares and signs checks.

Apply technological controls.