Internal Controls Analysis
Dewey, Cheatam and Howe Is a Consulting

question 33

Essay

Internal controls analysis
Dewey, Cheatam and Howe is a consulting firm in southern California. The firm employs the internal control procedures listed below as part of its operations. Place an "X" in the appropriate column to indicate whether each item listed is a strength or a weakness for the firm's internal control system. $\begin{array}{|l|l|l|}\hline & \text { Strength } & \text { Weakness } \\\hline \text { Any employee in the firm can sign checks.} & & \\\hline \text { Blank checks are stored in a locked filing cabinet.} &&\\ \hline\text { Checks from clients can be made out to the firm or any of } \\\text { the partners individually. } \\\hline\text { Office rent is paid automatically and electronically each } \\\text { month. } \\\hline \text { One of the partners deposits all credit card receipts and }\\\text { checks in the bank at the end of each month.}\\\hline \text { Signature cards, which specify who can sign checks, are re-}\\\text { done only when a new employee is hired.}\\ \hline \text {The cash receipts clerk reconciles the bank statement. }\\\hline \text {The firm accepts credit cards and checks, but not cash.}\\\hline \text { The firm maintains a petty cash fund of \( \$ 1,000 \). }\\\hline \text {Two signatures are required on all checks over \( \$ 500 \).}\\\hline \end{array}$

Acknowledge the importance of environmental and geographical factors in the development of state societies and urban areas.

Understand the impact of stress on sleep quality and how it affects overall well-being.

Recognize the importance and limitations of automatic processing in daily activities and problem-solving.

Comprehend the social cognitive theories of hypnosis and their implications.

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Definitions:

Meningitis

Meningitis is an inflammation of the protective membranes covering the brain and spinal cord, potentially leading to serious health complications or death, and can be caused by infections or other factors.

Traumatic Brain Injury

Damage to the brain resulting from external mechanical force, such as a blow, jolt, or penetrating injury to the head.

Stroke

Sudden appearance of neurological symptoms as a result of severely reduced blood flow.

Aneurysms

Abnormal bulges or ballooning in the wall of a blood vessel, often in the brain, which can rupture and cause damage.