Some of Crown Companys cash receipts from customers are received by the company with the regular mail.
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Some of Crown Company’s cash receipts from customers are received by the company with the regular mail. The company’s recordkeeper opens these letters and deposits the cash received each day.
a. Identify any internal control problem(s) in this arrangement.
b. What changes to its internal control system do you recommend?
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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