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You have decided to open a sports store that sells sporting equipment and competes with the local sporting goods chain. List an internal control procedure

You have decided to open a sports store that sells sporting equipment and competes with the local sporting goods chain. List an internal control procedure that you would implement in the store. Describe the procedure and explain how it would safeguard the business and/or its assets. Explain why it would be important to implement this internal control and what potential loss you would be safeguarding against.

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