19th Edition

ISBN: 9781947172685

Author: OpenStax

Publisher: OpenStax College

Textbook Question

Chapter 8, Problem 4TP

The vice president of finance asks the accounts payable (AP) clerk to write a check in the name of the president for $10,000. He and the president will sign the check (two signatures needed on a check of this size). He further instructs the AP clerk not to disclose this check to her immediate supervisor. What should the AP clerk do? Should she prepare the check? Should she inform her immediate supervisor? Discuss with internal controls in mind.

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Chapter 8, Problem 3TP

Chapter 8, Problem 5TP

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