Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, identify the internalcontrol principle the company followed.a. Cash registers contain locked electronic files that keep records of each sale.b. Employees requesting purchases of inventory cannot approve payment for that inventory.Divide responsibility for related transactionsc. The most important assets of the business are insured.d. Preprinted forms are used to reduce the chance of missing transaction details.e. External auditors are regularly hired to evaluate internal controls.Perform regular and independent reviewsf. Prohibit the recordkeeper from having control over cash.

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Answered: Whole Fruits Market took the following…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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