ACC 290 Week 5 DQ 1 / Assignmentcloud.com

Question 1

ACC 290 Week 5 DQ 1

http://www.assignmentcloud.com/ACC-290/ACC-290-Week-5-DQ-1

What is the control environment? How does the control environment affect a company’s internal controls? What are the negative and positive elements of a control environment? What are two examples of strong and weak internal controls in organizations where you have worked or have first-hand knowledge? How are these different? How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser? What are the key internal controls that should be in place to protect inventory for a merchandiser that sells highly desirable and very expensive inventory, such as jewelry? Would this be different if the business had a less desirable and less expensive inventory? Explain why or why not.

Answer 1

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