Exercise 7.2 "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 THROUOUHLY investigated by a "bonding company". An employer can then purchase "insurance" coverng theft by the bonded employee Used when employees handle large amounts of money or Jewelry, art etc) Not to be confused with "honded hourhan" or other tunes of hondane VERY different! 5. All employees and managers are experienced though not bonded. (A "bonded" employee has been THROUOUHLY investigated by a "bonding company". An employer can then purchase "insurance covering theft by the bonded employee. Used when employees handle large amounts of money or jewelry, art etc.) Not to be confused with "bonded bourbon" or other types of bondage ... VERY different! Instructions For each, explain the weakness in internal control. Then 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.) SPECIFIC Change Recommended Weakness Identified Ex: Cash is not adequately protected from theft. 1. 2. 3. 4 5. 4. 5