For the Following Situation,state Whether It Represents a Strength or Weakness

question 173

Essay

For the following situation,state whether it represents a strength or weakness in internal control and give the reason for your answer.
Baker Auto Supply purchases merchandise inventory from A & B Company.The accountant places the order,verifies receipt of the merchandise,and records the transaction in the general journal.

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Definitions:

Circular Rug

A rug in the shape of a circle, often used as a decorative piece in homes.

Radius

The measurement from the middle of a circle to a point on its outer boundary.

Percent

A ratio or fraction expressed as part of 100, used to describe proportions, rates, or relative quantities.

Unit Price

The cost per unit of quantity, making it easier to compare the cost of items that are sold in different quantities.