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ers 5-8 Soved Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control violated or followed for each procedure. 1. The company does not use electronic time clocks because it fears it will hurt employee morale. 2. An employee cannot approve their own request for purchases of inventory. 3. Each salesclerk is in charge of their own cash drawer. 4. The company insures important assets during good and bad economic times. 5. Time is saved by not updating records for use of supplies. Weakness or Strength Internal Control Principle 1 Nm 4 5 Prey 16 of 20 !!! Next > Skipped 4. The company insures important assets du 5. Time is saved by not updating records for eBook Weakness or Strength Interr Print 1. References 2. 3. 4. Weakness 5. Strength rength Internal Control Principle Apply technological controls Divide responsibility for related transactions Establish responsibilities Insure assets and bond key employees Maintain adequate records