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Respond to the following question, exercise, problem, or case in your textbook: "Chapter 8 Critical Thinking: Decision Case 8-2.
Respond to the following question, exercise, problem, or case in your textbook: “Chapter 8 Critical Thinking: Decision Case 8-2.” Use complete sentences, cite any sources used, and answer all required parts.
This case is based on an actual situation. Centennial Construction Company, headquartered
in Dallas, Texas, built a Rodeway Motel 35 miles north of Dallas. The
construction foreman, whose name was Slim Chance, hired the 40 workers needed
to complete the project. Slim had the construction workers fill out the necessary tax
forms, and he sent their documents to the home office.
Work on the motel began on April 1 and ended September 1. Each week,
Slim filled out a timecard of hours worked by each employee during the week.
Slim faxed the time sheets to the home office, which prepared the payroll checks
on Friday morning. Slim drove to the home office on Friday, picked up the payroll
checks, and returned to the construction site. At 5 p.m. on Friday, Slim distributed
payroll checks to the workers.
Requirements
1. Describe in detail the main internal control weakness in this situation. Specify
what negative result(s) could occur because of the internal control weakness.
2. Describe what you would do to correct the internal control weakness.
