The following list presents various internal control

strengths or risks that may be found in a company's

revenues and cash collection processes. In the space

provided, indicate whether each of these items

represents a strength $(S)$ or risk $(R)$ related to internal

controls in the revenues and cash collection

processes. Alternatively, indicate whether the item is

not applicable $($N$/$A$),$ meaning that it either has no

impact on the strength of internal controls or does

not pertain to the revenues and cash collection

processes.

Cash collections are

deposited in the bank

account on a weekly

basis.

Account statements are

sent to customers on a

monthly basis.

Credit is authorized by

the credit manager.

Collections received by

check are immediately

forwarded unopened to

the accounting

department.