Problem 8 - 3 A Each of the following situations has an internal control weakness :" a . Syspro Software Associates sells accounting software . Recently , the development of a new_ software program stopped while the programmers redesigned Syspro Software Associates' accounting system . Syspro Software Associates' own accountants could have performed this task . b. Judy Sloan has been your trusted employee for 30 years . She performs all cash- handling and accounting duties . She has just purchased a new Lexus and a new home in an expensive suburb . As the owner of the company , you wonder how she can afford these luxuries because you pay her $35, 000 per year and she has no sources of outside income . C . Sanchez Hardwoods Itd ., a private corporation , falsified sales and inventory figures to get a large loan . The company prepared its own financial statements . The company received the loan but later went bankrupt and couldn't repay the loan . d . The office supply company from which The Family Shoe Store purchases sales receipts recently notified Family that the last shipped receipts were not prenumbered) Louise Bourseault , the owner of Family , replied that she never uses the receipt numbers , so the omission is not important ." e. Discount stores such as Dollar Mart make most of their sales for cash , with the remain - der in debit card and credit card sales . To reduce expenses , one store manager ceases purchasing fidelity bonds on the cashiers . Required 1 . Identify the missing internal control characteristic in each situation . 2. Identify the potential problem that could be caused by each control weakness 3. Propose a solution to each internal control problem .