$$Convenient Store$$ employees alternate working the single cash register, stocking shelves, and performing general cleaning throughout their shifts. These internet control procedures are used in the business.

$1.$ To minimize loss from robbery, only $$100$ cash is kept in the cash register. Cash

over the $$100$ is hidden in a metal box stored in the locked office until it is deposited

in the bank.

$2.$ All sales are processed by at the register using a single cash drawer.

$3.$ At the end of each day, total cash receipts are counted by the store manager

and reconciled to the cash register total.

$4.$ The store manager makes the bank deposit and records the day$$s receipts.

$5.$ All employees and managers are experienced though not bonded.

$($A $$bonded$$ employee has been THOROUGHLY investigated by an insurance company. The employer can then buy EXTRA $$insurance$$ covering theft by the bonded employee. Employers may require $$bonding$$ for employees who handle large sums of money or jewelry, art etc.$)$ BTW $-$ Not to be confused with $$bonded bourbon$$ or other types of bonding or bondage $...$ VERY different!

Instructions

For each internal control $$weakness$,$ suggest a SPECIFIC change in procedure that will result in better internal control. $($If you need more space $$ add it by hitting the space bar INSIDE the tables row or column.$)$

Weakness SPECIFIC Recommended Change

$1.$ Cash is not adequately protected from theft.

$2.$ Inability to establish responsibility for cash with a specific clerk.

$3.$ The accountant

should not handle cash.

$4.$ Cash is not Independently counted.

$5.$ Cashiers are not bonded.