Listed below are three procedures followed by Garys Sporting Goods, owned by Gary Stanten. Indicate whether each
Question:
Listed below are three procedures followed by Gary’s Sporting Goods, owned by Gary Stanten. Indicate whether each procedure is an example of a strong internal control or a weak internal control.
a. Cashiers accept cash from customers and use a cash register.
b. At the end of the day, the cashiers put the cash in the safe and record a journal entry in the accounting information system.
c. On a monthly basis, Gary takes the cash from the safe and deposits the cash in the bank.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
Question Posted: