The Following Procedures Were Recently Implemented at the Pampered Pets

question 71

Essay

The following procedures were recently implemented at the Pampered Pets, Inc. For each procedure, indicate whether the internal control over cash represents (1) a strength or (2) a weakness. If it is a weakness, please explain why.

(a) At the end of the day, cash register clerks are required to use their own funds to make up any cash shortages
in their registers.

(b) At the end of the day, an accounting clerk compares the duplicate copy of the daily cash deposit slip with the
deposit receipt obtained from the bank.

(c) After necessary approvals have been obtained for the payment of a voucher, the treasurer signs and mails the
check. The treasurer then stamps the voucher and supporting documentation as paid and returns the voucher
and supporting documentation to the accounts payable clerk for filing.

(d) Along with the petty cash receipts for postage, office supplies, etc., several postdated employee
checks are in the petty cash fund.

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Definitions:

Meniscus

The curved surface of a liquid in a tube or those fibrocartilaginous structures in the knee joint that reduce friction and absorb shock.

Hyaline

A type of smooth, translucent cartilage found in various parts of the body such as the nose, trachea, and larynx, providing support with some flexibility.

Elastic Fiber

Protein fibers found in the extracellular matrix of connective tissue, giving elasticity and resilience to tissues like skin, lungs, and blood vessels.