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1. Please Help!!! Thank you!! ASAP urchases and Expenditure Process and Controls The following list presents statements regarding the expenditures processes. Each statement is separate
1. Please Help!!! Thank you!! ASAP urchases and Expenditure Process and Controls The following list presents statements regarding the expenditures processes. Each statement is separate and should be considered to be from a separate company. Determine whether each statement is an internal control strength or weakness; then describe why it is a strength or weakness. If it is an internal control weakness, provide a method or methods to improve the internal control. a) A purchasing agent updates the inventory subsidiary ledger when an order is placed. b) An employee in accounts payable maintains the accounts payable subsidiary ledger. c) Purchasing agents purchase items only if they have received an approved purchase requisition. d) The receiving dock employee counts and inspects goods and prepares a receiving document that is forwarded to accounts payable. e) The receiving dock employee compares the packing list with the goods received and if they match, forwards the packing list to accounts payable. f) An employee in accounts payable matches an invoice to a receiving report before approving a payment of the invoice, g) A check is prepared in the accounts payable department when the invoice is received. Ammion, Inc, is a small company with three people working in the expenditures processes. One of the three employees is the supervisor of the other two. Some tasks that must be accomplished within the expenditures processes are the following: a) Accounts payable record keeping b) Authorization of new vendors c) Authorization of purchase returns d) Authorization of purchases e) Cash disbursements record keeping f) Check-signing authority g) Custody of inventory in the receiving area h) Maintaining custody of cash i) Preparation of a debit memo for a purchase return Required: From the preceding list, assign all the duties to each of three employees: supervisor, employee 1, employee 2. No employee should have more than three tasks, no two employees should have any of the same tasks, and there should be a proper separation of duties to achieve appropriate internal control. List the three people, the duties you assign to each employee, and a description of why those assignments achieve proper separation of duties
1. Please Help!!! Thank you!! ASAP
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