Answer the following questions about internal control over cash payments: 1. Payment by check includes three controls

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Answer the following questions about internal control over cash payments:

1. Payment by check includes three controls over cash. What are they?

2. Suppose a purchasing agent receives the goods that she purchases and also approves payment for those goods. How could a dishonest purchasing agent cheat the company? How do companies avoid this internal control weakness?

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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Question Posted: May 22, 2020 09:27 AM

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Answer the following questions about internal control over cash payments: 1. Payment by check includes three controls

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Financial Accounting

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