125. One of your friends is preparing to open a store that will sell outdoor gear. When you heard that the business would have three or four employees, you told your friend that she would need to pay...

125. One of your friends is preparing to open a store that will sell outdoor gear. When you heard that the business would have three or four employees, you told your friend that she would need to pay careful attention to separation of duties. She has asked you to explain what duties should be separated and why separation of duties is important in a business. Write a note to your friend explaining these issues.

126. When preparing the monthly bank reconciliation, Mayhew Company’s accountant found the following adjustments to make to either the unadjusted book balance or unadjusted bank balance: