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Question 27 (11 points) Page's is a bookstore that carries regular books along with a collection of valuable antique books and original copies. Antique books

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Question 27 (11 points) Page's is a bookstore that carries regular books along with a collection of valuable antique books and original copies. Antique books and original copies are kept in a temperature and humidity-controlled storage unit in the basement. The storage unit is not able to be locked but the door is kept shut Page's also brings in a large amount of specialty holiday books and gifts. This makes the store extremely busy during the holiday season with up to 8 employees working behind the counter sharing 2 cash registers. The prices of most items are preprogrammed into the cash register. Deliveries of books arrive daily and are received by the bookstore workers who unload the delivery and place the items in the appropriate area store. The delivery drivers then take the invoice to the front counter where an available employee will pay for the goods out of the cash in the register. At the end of the day, each register generates a sales report and one of the employees will count the cash in both registers. The manager on shift then re counts the registers, subtracts the original cash balance, and compares the total with the sales report. Then, the manager puts the cash in a locked safe for the owner to deposit. Before the owner makes the deposit, they review and sign the sales report. Required: 1. In your own words, identify three control weaknesses in the above situation, explain the problems that could occur as a result of each of these weaknesses, and provide a recommendation to correct each control weakness. (9 marks) 2. In your own words, identify one control strengths in the above situation and explain what makes it an internal control strength. (2 marks)

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