I need the answer ASAP

Jun 1st, 2015
DotaCN
Category:
Accounting
Price: $10 USD

Question description

Your friend Dean has hired you to evaluate the following internal control procedures.
Explain to your friend whether each of the numbered items below is an internal control strength or weakness. You must also state which principle relates to each of the internal controls.
For the weaknesses, you also need to state a recommendation for improvement.
Bonding of the cashiers is not required because all of the cashiers have significant experience.
The treasurer is the only one allowed to sign checks.
All employees may operate cash registers.
Blank checks are stored in the safe.
Supervisors count cash receipts daily.

Tutor Answer

(Top Tutor) Daniel C.
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School: Rice University
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