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Which is an example of a physical control over assets

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Reference no: EM132999216

Problem 1: Which of the following is an example of a physical control over assets and records?

a. Greg is in charge of recording receipt of payments made to accounts receivable, while Susan is in charge of making deposits to the bank.

b. John, a clerk, is authorized to perform transactions as large as $5,000 but must obtain authorization from Andrea to perform larger transactions.

c. Every year, Doug is required to take one full week of vacation time.

d. Every evening, Shellie makes a back-up file of all transactions recorded on the computer that day, burns the back-up file onto a CD, and then locks the CD into a fire-proof vault.

Problem 2: Internal controls are designed to help and protect all of the following groups of people, EXCEPT

a. Creditors.

b. Management.

c. Investors.

d. Tax collectors.

Reference no: EM132999216

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