(ACCT2020) The internal control procedures in Payton Company make the
following provisions. Match the principles of internal control with
processes that are being followed in each case.
Independent internal verification
Documentation procedures
Segregation of duties
1. Employees who have physical custody of assets do not have access to the accounting records.
2. A prenumbered shipping document is prepared for each shipment of goods to customers.
3. Each month the assets on hand are compared to the accounting records by an internal auditor.
