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  1. business
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  3. determine whether each procedure described below i

Determine whether each procedure described below is an internal control strength or weakness; then identify...

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Accounting

Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control principle violated or followed for each procedure.
The recordkeeper is not allowed to write checks or initiate EFTs.
The company saves money by having employees involved in operations perform the only review of internal controls.
Time is saved by not updating records for use of supplies.
Employees that handle easily transferable assets such as cash are bonded.
An employee cannot approve their own request for purchases of inventory.
\table[[Weakness or Strength,Internal Control Principle],[1.,,],[2.,,],[3.,,],[4.,,],[5.,,]]
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