Exercise $6-3($Static$)$ Internal control strengths and weaknesses LO C$1$

nts

Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control principle violated or followed for each procedure.

$$The same employee requests, records, and makes payment for purchases of inventory.

$$The company saves money by having employees involved in operations perform the only review of internal controls.

$$Time is saved by not updating records for use of supplies.

$$The recordkeeper is not allowed to write checks or initiate Electronic fund transfers.

$$Each salesclerk is in charge of his$/$her own cash drawer.