White University has a cafeteria plan that provides a meal ticket to each dormitory resident. Each meal ticket represents $20 of meals that can be purchased in any university cafeteria. All cafeterias also accept cash instead of a meal ticket. After choosing the entrees they desire, customers pay a cashier operating a cash register at the cafeteria exit. The cashiers are mostly students paid on an hourly basis by University Food Service. The meal tickets are printed on blank card stock and are readily transferable. Students who subscribe to a meal plan level that is more than they need often sell their excess meal tickets to other students or faculty members. Each cafeteria is open only at specified times, such as lunch from 11:15 A.M. to 1:00 P.M.

REQUIRED: Identify the controls the university should implement to ensure that all purchases of meal tickets are recorded, meal tickets are properly deducted for the amount of purchase, and all cash is promptly and correctly deposited. Also consider the controls needed to protect against falsified meal tickets.