The following misstatements occurred in the records of MW Company. For each misstatement, suggest a control to

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The following misstatements occurred in the records of MW Company. For each misstatement, suggest a control to prevent it from happening.

1. A bill from a supplier was paid for goods that had not been ordered.

2. A supplier’s bill for 50 boxes of materials was paid even though only 40 boxes were received.

3. Expensive product components were stolen by an employee from a loading dock area after hours.

4. No bill was sent to a customer for a shipment because the shipping document was lost after the shipment was made.


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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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