Question: Identify the internal control principle that was violated in each of the following separate situations. Situations a . An employee was put in charge of
Identify the internal control principle that was violated in each of the following separate situations.
Situations
a An employee was put in charge of handling cash. That employee later stole cash from the business. The company incurred
an uninsured loss of $
b There is $ in cash missing from a cash register drawer. Three salesclerks shared the cash register drawer, so the
owner cannot determine who is at fault.
c An employee stole thousands of dollars worth of equipment over many years. It took years for the company to discover the
fraud because accounting records for equipment were rarely updated.
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