Answer the following questions about internal control over cash payments: 1. Payment by check carries three controls
Question:
1. Payment by check carries three controls over cash. What are they?
2. Suppose a purchasing agent receives the goods that he purchases and also approves payment for the goods. How could a dishonest purchasing agent cheat his company? How do companies avoid this internal control weakness?
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1 Paying by check carries three controls over cash The check provide...View the full answer
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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