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1. DEVRY ACCT 504 Midterm Exam (4 Sets)
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1. Question : (TCOs A and E) Your friend, Ellen, has hired you to
evaluate the following internal control procedures.
Explain to your friend whether each of the numbered items
below is an internal control strength or weakness. You must
also state which internal control procedure relates to each of
the internal controls.
For the weaknesses, you also need to state a recommendation
for improvement.
(1) The cashier counts the total receipts and reconciles the
receipts with the cash register total.
(2) Electronic documents are password-protected.
(3) The accountant is completely independent of the sales
department.

2. (4) Invoices are not numbered.
(5) Large purchase orders must be approved by a manager.
TCOs A and E) Your friend, Ellen, has hired you to evaluate the
following internal control procedures.
Explain to your friend whether each of the numbered items
below is an internal control strength or weakness. You must
also state which internal control procedure relates to each of
the internal controls.
For the weaknesses, you also need to state a recommendation
for improvement.
(1) The cashier counts the total receipts and reconciles the
receipts with thecash register total.
(2) Electronic documents are password-protected.
(3) The accountant is completely independent of the sales department.
(4) Invoices are not numbered.
(5) Large purchase orders must be approved by a manager. (Points : 30)
Set 2
1: Invoices are pre-numbered.
2: The controller approves of the purchases and makes the payment since he or she is familiar with the purchases.
3: The office manager is in charge of the petty cash fund.
4: Blank checks are stored in the safe.

3. 5: At the end of the day, the total receipts are counted by the cashier on duty and reconciled to the cash register total. (Points : 30)
Set 3
Invoices are pre-numbered.
The controller approves of the purchases and makes the payment since he
or she is familiar with the purchases.
The office manager is in charge of the petty cash fund.
Blank checks are stored in the safe.
At the end of the day, the total receipts are counted by the cashier on duty
and reconciled to the cash register total
Set 4
Question 14. Question : (TCO D) Your friend Dean has hired you to evaluate the following internal control procedures.
a: Explain to your friend whether each of the numbered items below is an internal control strength or weakness. You must also state which principle relates to each
of the internal controls.
b: For the weaknesses, you also need to state a recommendation for improvement.