Question: Coral Springs Foods Inc is diversifying its operations through the

Coral Springs Foods, Inc. is diversifying its operations through the sale of snack vending equipment. The plans call for the purchase of 350 machines, which will be located at 70 different sites within the regional area and one warehouse to store snack inventory.
Management has hired an inventory clerk to oversee the warehouse. Two drivers will periodically fill the machines with product and deposit the cash collected at a designated bank. Drivers report to the warehouse on a daily basis.

Based on this scenario, what internal controls would provide assurance about the integrity of the cash receipts and warehouse process?

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  • CreatedJanuary 21, 2015
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