Some of Crown Companys cash receipts from customers are received by the company with the regular mail.

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Some of Crown Company’s cash receipts from customers are received by the company with the regular mail. Crown’s recordkeeper opens these letters and deposits the cash received each day.

(a) Identify any internal control problem(s) in this arrangement.

(b) What changes do you recommend?

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Financial Accounting Information For Decisions

ISBN: 9780073043753

4th Edition

Authors: John J. Wild

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Question Posted: Jul 19, 2024 07:03 PM

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Some of Crown Companys cash receipts from customers are received by the company with the regular mail.

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Financial Accounting Information For Decisions

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