Determine whether each procedure described below is an internal control strength or weakness. 1. The same employee
Question:
Determine whether each procedure described below is an internal control strength or weakness.
1. The same employee is in charge of recordkeeping and depositing cash receipts.
2. All large payments are made by electronic funds transfer (EFT).
3. Cash receipts of large amounts are kept in an office drawer and deposited every six months.
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Related Book For
Principles Of Financial Accounting (Chapters 1-17)
ISBN: 9781260780147
25th Edition
Authors: John Wild
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