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The following situations suggest a strength or a weakness in internal control. (Click the icon to view the situations.) Read the requirements. Requirement 1. Define
The following situations suggest a strength or a weakness in internal control. (Click the icon to view the situations.) Read the requirements. Requirement 1. Define internal control. Internal control is (Only complete the necessary input fields.) and all the related measures designed to do the following: Requirements 1. Define internal control. 2. The system of internal control must be tested by external auditors. What law or rule requires this testing? 3. Identify each item as either a strength or a weakness in internal control, and give your reason for each answer. More info a. Top managers delegate all internal control procedures to the accounting department. b. Accounting department staff (or the bookkeeper) orders merchandise and approves invoices for payment. c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The sales clerk matches the total recorded by the register to each day's cash sales. d. The employee who signs checks need not examine the payment packet because he is confident the amounts are correct
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