Reading review problem.Dean is the owner and manager of the AIM Mail Center in Rancho Cucamonga, California; the store is a franchise of AIM Mail Centers. The corporate Web site (www.aimmailcenters.com/index.html) provides a list of the company’s services, which include an authorized UPS shipping outlet, packing needs, money orders, mail service, office gifts, money transfer, business cards, and office supplies.
Often, a customer brings in material to be mailed without proper packaging. In that situation, Dean selects appropriate packaging from the store’s inventory. He prepares the package for shipment and tells the customer how much shipping will cost based on the carrier and expected delivery date. The customer makes a choice; Dean prepares the shipping documents and collects payment. The store accepts cash and major credit cards, but not checks. Dean then puts the package with others to be shipped via the same carrier; major common carriers make daily visits to the store to pick up the packages.
Consider the business process described above as you answer these questions.
a. How does it align with the generic sales/collection process described in the chapter?
b. Which documents discussed in the chapter are exemplified?
c. What are AIM Mail Center’s risk exposures? What are Dean’s risk exposures?
d. What internal controls would you recommend to address the risks?
e. In a format specified by your instructor, document the business process.
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