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obj. 2, 3 the procedures used for over-the-counter receipts are as follows. at the close of each day’s 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 cashier’s office counts the cash, compares the total with the memo, and takes the cash to the cashier’s office. pencil indicate the weak link in internal control. pencil how can the weakness be corrected?

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ogorwyne

The weak link that can be established here is from the fact that there are no separation of duties in this business.

The link can be corrected when other people are assigned some of the tasks to do

How is the weak link established?

The way that this link can be seen is from the fact that in the business that we have here, there is no form of separation of duties. We can see that the same person that is in charge of the issuance of the receipts is still the one that would have to create the memo and would still be the one that would count cash as well.

Less may be shown compared to what was received, receipts may not be given and cash would also be taken to the home.

b. The way that the weakness would be corrected would have to with the employment of other people that would have to do some of these other tasks.

available cash may be greater that receipts of sales if people are not issued receipts.

Read more on cash registers and cashiers here:

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