answer 10 until 15

10. a) Explain the control principle of independent internal verification. (b) What practices are important in applying this principle? 11. The management of Sowell Company asks you, as the company accountant, to explain (a) the concept of reason- able insurance in internal control and (b) the importance of the human factor in internal control. 12. McCartney Fertilizer Co. owns the following assets at the balance sheci date. $8.000 X50 Cash in bank savings account Cash on hand Cash refund due from the IRS Checking nutqunt balance Postdated cheeks 12.00 500 What amount should McCartney report as cash in the bal- ance sheet?! 13. Whal principle(s) of internal control is (are) involved in making daily cash counts of over-the-counter receipts? 14. Jacobs Department Stores has just installed new electronic cash registers in its stores. How do cash registers improve mlernal control over cash receipts 15. At Hummel Wholesale Company, two mail clerks open all mail receipts How does this strengthen internal control? 2 25