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Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal control principle the company followed.
Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal control principle the company followed.
Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal control principle the company followed. a. Prohibit the recordkeeper to have control over cash. b. Purchased an insurance (bonding) policy against losses from theft by a cashier. c. | Each cashier is designated a specific cash drawer and is solely responsible for cash in that drawer. d. Detailed records of inventory are kept to ensure items lost or stolen do not go unnoticed e. Digital time clocks are used to register which employees are at work at what times. f. External auditors are regularly hired to evaluate internal controls g. Employees requesting purchases of inventory cannot approve payment for that inventory h. Personal ID cards are used to limit access to only authorized employees. i The company's internal auditors frequently assess the performance of internal controls j. To ensure equipment theft does not go undetected, detailed accounting records are kept. Apply technological controls Divide responsibility for related transactions timesEstaish responsibilities Insure assets and bond key employees Maintain adequate records Perform reqular and independent reviewsStep by Step Solution
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