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QUESTION
the procedures used for over the counter receipts are as follows at the close of each days business, the sales clerks count the cash in their
the procedures used for over the counter receipts are as follows at the close of each days business, the sales clerks count the cash in their respective cash drawers, after which they determine the amount recorded by the cash register and prepare the memo cash form noting any discrepancies an employee from the cashiers office counts the cash compares the total with the memo and takes the cash to the cashiers office.
a. indicate the weak link in internal control.
b. how can the weakness be corrected?
