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Internal Control

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Accounting

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Running head: INTERNAL CONTROL 1 Internal Control Name Course Institution Professor Date INTERNAL CONTROL 2 Internal Control How does this policy help the restaurant control cash receipts? The policy of customer checks with pre-numbered sequence codes helps control cash receipts by ensuring that the food servers in restaurants use the checks to write customer orders and make sure that they keep the checks and not to destroy them whatsoever. Therefore, since all checks are pre-numbered, they help to detect any unrecorded transactions as they form a base for the accounting of their use. This means that in case a check is missing, it is a clear indication to the management that a customer failed to pay for a meal. In such scenarios, the policy makes it easy for the management to identify which food server was responsible for the customer who failed to pay. In addition, the policy help ...
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Anonymous
Awesome! Perfect study aid.

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