Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal controlprinciple the company followed.a. Personal ID cards are used to limit access to only authorized employees.b. The company divides responsibility for a transaction between multiple departments.c. Each cashier is designated a specific cash drawer and is solely responsible for cash in that drawer.d. Purchased an insurance (bonding) policy against losses from theft by a cashier.e. To ensure equipment theft does not go undetected, detailed accounting records are kept.f. The company's internal auditors frequently assess the performance of internal controls.

Internal control is the procedure of the company to make sure the activities of the company go…

Answered: Whole Fruits Market took the following…

Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal control principle the company followed.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, select the internal control
principle the company followed.
a. Personal ID cards are used to limit access to only authorized employees.
b. The company divides responsibility for a transaction between multiple departments.
c. Each cashier is designated a specific cash drawer and is solely responsible for cash in that drawer.
d. Purchased an insurance (bonding) policy against losses from theft by a cashier.
e. To ensure equipment theft does not go undetected, detailed accounting records are kept.
f. The company's internal auditors frequently assess the performance of internal controls.

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