Acc280 Financial Accounting: BE8-3 The internal control procedures in Weiser Company

Acc280 Financial Accounting

BE8-3
The internal control procedures in Weiser Company are provided below.
Identify the principles of internal control that are being followed.
1. Employees who have physical custody of assets do not have access to the accounting records.
2. Each month the assets on hand are compared to the accounting records by an internal auditor.
3. A prenumbered shipping document is prepared for each shipment of goods to customers.
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