Indicate whether each statement below in an internal control weakness (W) or strength (S) for a company. Customer credit is set and authorized by the W Sales Representative. W Collections received by check are received by the same person responsible for preparing the deposit slip. W
Account statements are sent to customers on a monthly basis. S Cash is deposited once per week. S
Customer complaints about a monthly statement balance are handled by the AR Clerk. Standard Sale Prices for inventory items are set and maintained as necessary by all Sales Reps W Delivery quantity delivered line item value is matched against an open Sale Order quantity ordered line item. S