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QUESTION 3 As at 31 December 2020, trade receivables of Miko Berhad accounted for approximately 10 weeks' sales, although the standard credit terms are cash
QUESTION 3 As at 31 December 2020, trade receivables of Miko Berhad accounted for approximately 10 weeks' sales, although the standard credit terms are cash within 30 days of statement, equivalent to an average of about 5 weeks of sales. Required: You, as a financial adviser are required to identify and explain the deficiency of the internal controls system implemented by Miko Bhd on credit control system and suggest one possible improvement that can be implemented
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