Question
The Design of Internal Control Documents Tiger's Group is a newly formed company that produces and sells children's movies about an imaginary character. The movies
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The Design of Internal Control Documents
Tiger's Group is a newly formed company that produces and sells children's movies about an imaginary character. The movies are in such great demand that they are shipped to retail outlets as soon as they are produced. The company must pay a royalty to several actors for each movie that it sells to retail outlets.
Required:
1. Complete the following statement regarding some internal control features that should be in place to ensure that all royalties are paid to the actors.
Procedures to ensure that all royalties are paid require that all payments be made by , subject to approval by and cross-referenced to the actual sales.
2. Complete the following statement regarding the shipping form that Tiger's Group should use for the movies. Make sure you include authorizations and indicate the number of copies and the routing of the copies.
The shipping form should be in , with the original filled out by the department and a copy to the department.
The Design of Internal Control Documents
Tiger's Group is a newly formed company that produces and sells children's movies about an imaginary character. The movies are in such great demand that they are shipped to retail outlets as soon as they are produced. The company must pay a royalty to several actors for each movie that it sells to retail outlets.
Required:
1. Complete the following statement regarding some internal control features that should be in place to ensure that all royalties are paid to the actors.
Procedures to ensure that all royalties are paid require that all payments be made by , subject to approval by and cross-referenced to the actual sales.
2. Complete the following statement regarding the shipping form that Tiger's Group should use for the movies. Make sure you include authorizations and indicate the number of copies and the routing of the copies.
The shipping form should be in , with the original filled out by the department and a copy to the department.
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