Question: Business rules implement internal controls. Please review Table 6.1 in your text. Describe which business rules implement segregation of duties, and identify whether they are

Business rules implement internal controls. Please review Table 6.1 in your text. Describe which business rules implement segregation of duties, and identify whether they are obligatory, prohibited, or allowed.

Oct.1 Purchases (or Inventory) 1,495
Account Payable 1,495
Purchased inventory on credit from Richardson Inc.
Invoice 1125 dated Oct.1, terms 2/10, net 30
Oct. 11 Accounts payable 1,495
Purchase discount 29
Cash 1,465
Paid Richardson Inc. for invoice 1125 dated Oct. 1 less 2% discount
Debit to purchases or inventory account depends on weather the company uses a periodic or perpetual inventory system

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