1 Requirements X Each of the following situations has an internal control weakness. (Click the icon to view the situations.) (Click the icon to view the possible problems.) Read the requirements. 1. Identify the missing internal control characteristics in each situation. 2. Identify the possible problem caused by each control weakness. 3. Propose a solution to each internal control problem. Reg. 1 Req. 2 Req. 3 Missing Internal Control Characteristic Possible Problem Solution Print Done i Reference (1.) Loss of revenue due to low-quality work (2.) Lost data, unhappy customers, failure to collect receivables. (3.) Lost sales due to delay of product development. (4.) Theft of cash. (5.) Theft of cash and inefficiency. (6.) Unreliable financial statements and lost credibility Print Done Choose from any drop-down list and then continue to the next