COMPLETION STATEMENTS
215.Internal control consists of the related methods and measures adopted to ____________ its assets, enhance the ______________ of its records and ensure______________ with laws and regulations.
216.The principle of internal control that prevents one individual from being responsible for all the related activities of a given task is ______________.
217.The ______________ of an asset should not have access to the accounting records of that asset.
218.Employees of a company who evaluate the effectiveness of the company's system of internal controls on a year-round basis are called ______________.
219.Using _______________ documents is a control measure which helps in accounting for all documents in a series and also prevents a document from being recorded more than once.
220.Employees who handle cash should be ______________ in order to protect against misappropriation of assets by dishonest employees.
221.Two limitations of systems of internal control are the concept of ______________ and the ______________.
222.Internal control over cash disbursements is more effective when payments are made by ______________, rather than by ______________.
223.A voucher is recorded in the ________________ and filed according to the date on which it is to be paid.
224.A __________________ fund is used to pay relatively small expenditures.
225.A debit memorandum issued by the bank ______________ the cash balance in the depositor's account.
227.A disbursement system that uses wire, telephone, computers, etc., to transfer cash from one location to another is referred to as ______________.
228.The difference between the cash in bank balance shown on the company's books and the cash balance shown on the bank statement may be caused by ______________ and by ______________ in recording transactions by either party.
229.In preparing a bank reconciliation, outstanding checks are ______________ from the cash balance per ______________.
230.A check correctly written for $270 was incorrectly entered in the cash payments journal for $720. In preparing a bank reconciliation, $_____________ must be ______________ the cash balance per ______________.