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Determine whether each procedure described below is an internal control strength or weakness, then identify the internal control violated or followed for each procedure. 1.
Determine whether each procedure described below is an internal control strength or weakness, then identify the internal control violated or followed for each procedure. 1. The company does not use electronic time clocks because it fears it will hurt employee morale 2. An employee cannot approve their own request for purchases of inventory 3. Several salesclerks share the same cash drawer 4. Employees that handle easily transferable assets such as cash are bonded 5. The company does not allow employees with access to cash to modify accounting records Weakness or Strength Internal Control Principle
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