For companies that are too small to hire enough employees to properly separate duties,the key to good internal control is getting the owner to perform which of the following duties:

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It is not recommended for the owner to approve all small transactions as this can lead to an abuse of power and potential fraud. However, reconciling the bank account or making deposits is a crucial financial control that the owner can perform to ensure accuracy and detect any irregularities. It is important to note that if possible, the owner should delegate some duties to other employees and implement other internal controls to reduce the risk of fraud.

For Companies That Are Too Small to Hire Enough Employees