Review the opening feature of this chapter that highlights Todd Masonis and Cameron Ring and their company Dandelion Chocolate. Their company has one retail store with plans to open at least one additional kiosk in the Ferry Building in San Francisco. Other retail outlets and expansion plans may be in the works.

Required

1. List the seven principles of internal control and explain how a retail outlet might implement each of the principles in its store.

2. Do you believe that a retail outlet will need to add controls to the business as it expands? Explain.