The following control procedures are used at Torres Companyfor over-the-counter cash recipts. ...
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The following control procedures are used at Torres Companyfor overthecounter cash recipts. a For each procedure, explain the weakness in internal control, and identify the control principple that is violated. b For each weakness, suggest a change in procedure that willl result in good internal control. To minimize the risk of robbery, cadh in excess of $ is stored in an unlocked briefcase in the stockroom until it is deposited in the bank. a Weakness: Principle: b Recommended Change:
The following control procedures are used at Torres Companyfor overthecounter cash recipts.
a For each procedure, explain the weakness in internal control, and identify the control principple that is violated.
b For each weakness, suggest a change in procedure that willl result in good internal control.
To minimize the risk of robbery, cadh in excess of $ is stored in an unlocked briefcase in the stockroom until it is deposited in the bank.
a Weakness:
Principle:
b Recommended Change:
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