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Question - "Sunday Afternoon" sells cat supplies and food, and handles all sales with a cash register. The cash register displays the amount of the sale. It also shows cash received and change returned to the customer. The register also produces a customer receipt but keeps no internal record of the transactions. At the end of the day, the clerk counts the cash in the register and gives it to the cashier for deposit in the company bank account.
1. Identify the internal control weakness over cash receipts.
2. What could the store do to correct the weakness?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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