For each procedure, explain the weakness in internal control and identify the internal control principle that is violated.

Procedure

Weakness'

Each week, $100$ company checks are left in an

unmarked envelope on a shelf behind the cash

register.

The store manager personally approves all payments

before she signs and issues checks.

The store purchases used goods for resale from

people who bring items to the store. Since that can

occur anytime that the store is open, all employees

are authorized to purchase goods for resale by

disbursing cash from the register. The purchase is

documented by having the store employee write on a

piece of paper a description of the item that was

purchased and the amount that was paid. The

employee then signs the paper and puts it in the

register.

After payment, bills are "filed" in a paid invoice folder.

The company accountant prepares the bank

reconciliation and reports any discrepancies to the

owner.