After comparing cash register tapes with inventory records, the accountant for Benning Convenience Stores is concerned that
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1. Explain why a comparison of sales and inventory records would reveal a situation in which cash sales are not being recorded and cash from those sales is being stolen.
2. Describe how an employee might be able to steal cash from sales.
3. What internal control procedures would you recommend to make the theft you described in requirement 2 more difficult?
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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