Determine whether each procedure described below is an internal control strength or weakness. Weakness or Strength...

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Determine whether each procedure described below is an internal control strength or weakness. Weakness or Strength Internal Control Principle 1. Large amounts of cash are kept in a desk drawer to pay liabilities over $1,000. 2. The recordkeeper is in charge of signing checks and handling cash. 3. Employees handling cash do not have access to accounting records. Determine whether each procedure described below is an internal control strength or weakness. Weakness or Strength Internal Control Principle 1. Large amounts of cash are kept in a desk drawer to pay liabilities over $1,000. 2. The recordkeeper is in charge of signing checks and handling cash. 3. Employees handling cash do not have access to accounting records.

Answer rating: 100% (QA)

1 Weakness Keeping large amounts of cash in a desk drawer is a weakness in internal control It incre... View the full answer