Identify the missing internal control in the following situations. Select from these activities:
font size increased by 1 font size increased by 1 font size increased by 1 font size increased by 1 Bold times
Proper authorization
font size increased by 1 font size increased by 1 font size increased by 1 font size increased by 1 Bold times
Separation of duties
font size increased by 1 font size increased by 1 font size increased by 1 font size increased by 1 Bold times
Adequate documents and records
While reviewing the records of Discount Drug, you find that the same employee orders merchandise and approves invoices for payment.
b.
Business is slow at Play Time Amusement Park on Tuesday, Wednesday, and Thursday nights. To reduce expenses, the owner decides not to use a ticket taker on those nights. The ticket seller is told to keep the tickets as a record of the number sold.
c.
When business is brisk, Shop Mart does not give customers a written receipt unless they ask for it.
d.
Lynne has worked for Watkins Electric Supply for over 12 years. Due to her length ofemployment, she has been allowed to grant sales returns at her discretion.
e.
At a grocery store, the manager decides to reduce paperwork. He eliminates the requirement that the receiving department prepare a receiving report.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
