Question: Exercise 7-5 John and Joseph Smith have decided to open a small merchandising firm. This firm will primarily sell food items. Both John and

Exercise 7-5 John and Joseph Smith have decided to open a small merchandising firm. This firm will primarily sell food items. Both John and Joseph are not sure what internal control procedures should be set in place in the store, as well as, the office. Give three suggestions of good internal control procedures John and Joseph should put into practice to protect their merchandising firm from fraud embezzlement and theft.

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