188. An internal control system refers to the policies and procedures managers use to __________ ensure reliable accounting promote efficient operations and urge adherence to company policies. 189. An employee is __________ when a company purchases an insurance policy against losses from theft by that employee. 190. Two sales clerks should not share the same cash register. This is an example of the internal control principle of _______________________. 191. A sales system with prenumbered controlled sales slips is an example of the internal control principle of _______________________. 192. A person who controls or has access to an asset must not keep that asset’s accounting records. This describes the internal control principle of ________________________. 193. Having external auditors test the company’s financial records and evaluate the effectiveness of the internal control system is part of the internal control principle of ________________________. 194. Two limitations of internal control systems are ____________________ and ________________. 195. ____________ are short-term highly liquid investment assets that are readily convertible to a known amount of cash. 196. ________________ includes currency coins and amounts on deposit in checking accounts and many savings accounts. 197. ________________________ refers to a company’s ability to pay for its near-term obligations. 198. A ________ is a document signed by the depositor instructing the bank to pay a specified amount of money to a designated recipient.
