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What would the business do to correct it?

Gary's Great Cars purchases high-performance auto parts from a Nebraska vendor. D prepares, signs, and mails the check to the vendor Requirements 1. Identify the internal control weakness over cash payments. 2. What could the business do to correct the weakness? Requirement 1. Identify the internal control weakness over cash payments. The following are the weaknesses in internal control. (Only complete the necessary answer boxes.) The same person is responsible for verifying receipt of merchandise, authorizing payment, and preparing the payment. Requirement 2. What could the business do to correct the weakness? In order to correct the weakness, the following could be put into place: (Only complete the necessary answer boxes.) ook A security guard should be hired Purchase orders, utilizing authority from operations, should be used to authorize inventory purchases Alarmi... ge Con. Require that payments for merchandise be signed by the person who verfied receipt of the merchandise, The accountant should not place the purchase order The accountant should receive the receipt of goods and purehase order forms from other departments before insuing payment The receipt of goods should be verfied by someone other than the aocountant or the person authorizing the purchase order Choose from any drop-down list and then click Check Answer. All parts showing Clear All 1,016

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