Business, 14.10.2020 14:01 ethanyayger
Below are several statements about internal controls.1. The components of internal control are built on the foundation of the ethical tone set by top management. 2. Once every three months, managers need to review operations to ensure that control procedures work effectively. 3. Collusion refers to the act of a single individual circumventing internal control procedures. 4. Detective control procedures are designed to detect errors or fraud that have already occurred, while preventive control procedures are designed to keep errors or fraud from occurring in the first place. 5. Fraud committed by top-level employees is more difficult to detect because those employees more often have the ability to override internal control features. 6. A good example of separation of duties would be having one person collect cash from customers and account for it, while having another person order inventory and maintain control over it. 7. Employee tips historically have been the most common means of detecting employee fraud. 8. Detective controls include reconciling the physical assets of the company with the accounting records and comparing actual performance of individuals or processes against their expected performance. 9. Effective internal controls and ethical employees ensure a company's success. Stae whether the answer to each statement is true or fasle.
Answers: 3
Business, 21.06.2019 20:30
At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?
Answers: 3
Business, 22.06.2019 00:30
Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale
Answers: 1
Business, 22.06.2019 09:00
Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit
Answers: 1
Business, 22.06.2019 11:10
The green fiddle has declared a $5 per share dividend. suppose capital gains are not taxed, but dividends are taxed at 15 percent. new irs regulations require that taxes be withheld at the time the dividend is paid. green fiddle stock sells for $71.50 per share, and the stock is about to go ex-dividend. what will the ex-dividend price be?
Answers: 2
Below are several statements about internal controls.1. The components of internal control are built...
Mathematics, 18.03.2021 03:10
History, 18.03.2021 03:10
Chemistry, 18.03.2021 03:10
Mathematics, 18.03.2021 03:10
Computers and Technology, 18.03.2021 03:10
Biology, 18.03.2021 03:10
Mathematics, 18.03.2021 03:10
Mathematics, 18.03.2021 03:10
Mathematics, 18.03.2021 03:10
Mathematics, 18.03.2021 03:10