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The following situations suggest either a strength or a weakness in interal control. Identify each as a strength or a weakness and give the reason
The following situations suggest either a strength or a weakness in interal control. Identify each as a strength or a weakness and give the reason for your answer. Top managers delegate all internal control procedures to the accounting department The accounting department orders merchandise and approves invoices for payment. Cash received over the counter is controlled by the clerk, who rings up the sale and places the cash in the register. The clerk matches the total recorded by the register to each day's cash sales. The vice-president, who signs cheques, assumes the accounting department has matched the invoice with other supporting documents and therefore does not examine the payment packet. b. C. d a. Top managers delegate all internal control procedures to the accounting department. b. The accounting department orders merchandise and approves invoices for payment c. Cash received over the counter is controlled by the clerk, who rings up the sale and places the cash in the register. The clerk matches the total recorded by the register to each day's cash sales. d. The vice-president, who signs cheques, assumes the accounting department has matched the invoice with other supporting documents and therefore does not examine the payment packet. (Abbreviations used: VP = vice-president.) Choose from any drop-down list and then continue the next
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