The procedures used for over-the-counter receipts are as follows. At the close of each day's business, the sales clerks count the cash in their respective cash drawers, after which they determine the amount recorded by the cash register and prepare the memo cash form, noting any discrepancies. An employee from the cashier's office counts the cash, compares the total with the memo, and takes the cash to the cashier's office.
a. Indicate the weak link in internal control.
b. How can the weakness be corrected?

a The weak link in the internal control is that there is no separation of duties.The same person issues receipts, count cash and prepare memo cash form.He may show less amount in the memo cash form than actually received. The beginning cash balance in the drawer is not recorded. The sales clerk may not issue some receipts and carry the cash to his home

b Weakness can be corrected by a different person is entrusted with responsibility of counting cash in the drawer, verify with cash receipts and prepare memo cash form.

If some receipts are not issued, the available cash will be higher than total of sales receipts.

In addition there can be a system of surprise cash check from time to time by an independent person.

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

i'm pretty sure the answer is 60.