In an essay, explain the impact of a missing journal entry on the financial statement of a company.
Identify 3 limitations of the internal control system.
Provide 2 examples of internal control procedures.
Identify 2 symptoms of lack of internal control.
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Missing journal entry will always affect the credibility and the truthness of a financial Statement. Mistatement of Financial reports will always lead to a wrong decision-making of its User.
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