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You have been hired to evaluate the payroll system for the skip-rope Manufacturing Company. The Company processes its payroll in-house. Prepare a list of problems to evaluate Skip-Rope's internal control structure as it pertains to payroll processing for its factory employees. Each problem should be phrased so that it can be answered with either a yes or a no; all no answers should indicate potential internal control weakness. Include a third column listing the potential problem that could arise if that particular control were not in place.

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  • Category:- Accounting Basics
  • Reference No.:- M961040

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