Figure 1 presents different business activities involved in the revenue cycle

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Question 2

Figure 1 presents different business activities involved in the revenue cycle of ABC company.

(a) Describe at least three (03) weaknesses depicted Figure 1.

(b) Discuss the risks associated with the weaknesses in identified in (a).

Hint

Accounts & FinanceThe revenue cycle is a way of establishing and managing the procedures that are needed to complete an accounting process for recording revenue earned by the company's services or goods, which includes the accounting process of tracking and documenting transactions from beginning to end. ...

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