Response to the following questions:
1. Select a business in your community and observe its internal controls over cash receipts and cash payments. The business could be a bank or a bookstore, restaurant, department store, or other retailer. In groups of three or four, identify and discuss the similarities and differences in each business's cash internal controls.
2. Assume that you have just received a $100,000 check! Go to the Web site of (or visit) a local bank and collect information about the savings and checking options that are available. Identify the option that is best for you and why it is best.