Listed below are five procedures followed by Gilmore Company.

Question 3 of 8 11/11 1. Employees are required to take vacations. 2. Any member of the sales department can approve credit sales. 3. Paul Jaggard ships goods to customers, bills customers, and receives payment from customers. 4. Total cash receipts are compared to bank deposits daily by someone who has no other cash responsibilities. 5. Time clocks are used for recording time worked by employeds. Indicate whether each procedure is an example of good internal control or of weak internal control. If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated. Procedure IC Good or Weak? Related internal control principle Human Resource Controls 1. Good 2. Weak v Establishment of Responsibility 3. Weak Segregation of Duties 4. Good v Independent Internal Verification 5. Good v Physical Controls e Textbook and Media Attempts: 2 of 5 used