Exercise 6-3 (Algo) Internal control strengths and weaknesses LO C1 Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control principle violated or followed for each procedure. 1. Several salesclerks share the same cash drawer. 2. Employees that handle easily transferable assets such as cash are bonded. 3. The owner does not use ID scanners to limit access to expensive merchandise. Instead, the owner argues they hire honest employees. 4. The company devotes resources towards keeping accurate accounting records for machinery. 5. The recordkeeper is not allowed to write checks or initiate EFTs