After comparing cash register tapes with inventory records, the accountant for Benning Convenience Stores is concerned that someone at one
1. Explain why a comparison of sales and inventory records would reveal a situation in which cash sales are not being recorded and cash from those sales is being stolen.
2. Describe how an employee might be able to steal cash from sales.
3. What internal control procedure would you recommend be employed to make the theft you described in 2 more difficult?
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Question Posted: July 23, 2012 01:49:27