subject
Business, 10.05.2021 23:10 giovney

Below are descriptions of internal control problems. Identify the one best internal control principle that is related to the problem described. 1. The same person opens incoming mail and posts the accounts receivable subsidiary ledger. select principle of internal control 2. Three people handle cash sales from the same cash register drawer. select principle of internal control 3. A clothing store is experiencing a high level of inventory shortages because people try on clothing and walk out of the store without paying for the merchandise. select principle of internal control 4. The person who is authorized to sign checks approves purchase orders for payment. select principle of internal control 5. Some cash payments are not recorded because checks are not pre-numbered. select principle of internal control 6. Cash shortages are not discovered because there are no daily cash counts by supervisors. select principle of internal control 7. The treasurer of the company has not taken a vacation for over 20 years. select principle of internal control

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 20:00
When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting
Answers: 3
question
Business, 22.06.2019 02:30
When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $
Answers: 1
question
Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
question
Business, 22.06.2019 17:30
According to management education expert ashok rao, companies can increase their profitability by through careful inventory management. a. 5% to 10% b. 10% to 25% c. 20% to 50% d. 75%
Answers: 1
You know the right answer?
Below are descriptions of internal control problems. Identify the one best internal control principl...
Questions
question
Mathematics, 21.05.2021 17:00
question
Mathematics, 21.05.2021 17:00
question
Mathematics, 21.05.2021 17:00
Questions on the website: 13722362