Question: The ticket seller at a movie theater doubles as a ticket
The ticket seller at a movie theater doubles as a ticket taker for a few minutes each day while the ticket taker is on a break. Which control procedure of a business’s system of internal control is violated in this situation?
Answer to relevant QuestionsWhy should the responsibility for maintaining the accounting records be separated from the responsibility for operations? Explain.What is the purpose of preparing a bank reconciliation?First Kenmore Bank provides loans to businesses in the community through its Commercial Lending Department. Small loans (less than $100,000) may be approved by an individual loan officer, while larger loans (greater than ...The actual cash received from cash sales was $36,183, and the amount indicated by the cash register total was $36,197.a. What is the amount deposited in the bank for the day’s sales?b. What is the amount recorded for the ...An accounting clerk for Grebe Co. prepared the following bank reconciliation:a. From the bank reconciliation data on the previous page, prepare a new bank reconciliation for Grebe Co., using the format shown in the ...
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