an example of poor internal control is select one: a. the accountant should not have physical custody of the asset nor access to it. b. the custodian of an asset should not maintain or have access to the accounting records. c. one person should be responsible for handling related transactions. d. a salesperson makes the sale, and a different person ships the goods.
Answers
An example of poor internal control is option C: one person should be responsible for handling related transactions.
This situation demonstrates a lack of segregation of duties, which is an essential principle in maintaining strong internal controls within an organization. Segregation of duties ensures that no single individual has complete control over all aspects of a process or transaction, reducing the risk of errors, fraud, or unauthorized activities.
In contrast, options A, B, and D exemplify good internal control practices. In option A, ensuring that the accountant does not have physical custody of an asset nor access to it establishes a clear separation between the accounting function and asset management. This minimizes the risk of asset misappropriation or manipulation of financial records.
In summary, a strong internal control system relies on the segregation of duties to minimize risks and protect an organization's assets and financial records. Option C represents a poor internal control practice, as it concentrates responsibility on one person, increasing the likelihood of errors or fraudulent activities. Therefore, the correct option is C.
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an example of poor internal control is select one:
a. the accountant should not have physical custody of the asset nor access to it.
b. the custodian of an asset should not maintain or have access to the accounting records.
c. one person should be responsible for handling related transactions.
d. a salesperson makes the sale, and a different person ships the goods.
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Related Questions
The WTO has a __________________ that rules on trade disputes, giving the WTO an enforcement mechanism, something the GATT did not have.
Answers
The WTO has a Dispute Settlement Body (DSB) that rules on trade disputes, giving the WTO an enforcement mechanism, something the GATT (General Agreement on Tariffs and Trade) did not have.
The Dispute Settlement Body (DSB) is a key component of the World Trade Organization (WTO) and serves as the forum for resolving trade disputes among member countries.
It is an enforcement mechanism that was introduced by the WTO, and it has a formalized process for settling disputes based on established rules and procedures. The DSB plays a crucial role in maintaining the rules-based international trading system by providing a forum for member countries to resolve trade disputes in a fair and transparent manner.
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The end goal of budgeting is to plan and ____ organizational finances successfully?
A. justify
B. control
C.explain
D.increase
Answers
Answer:
B
Explanation:
Controlling is another organizational goal
Who are the majority of businesses in resort towns targeted to?
O
seniors
O
tourists
O
employees
investors
Answers
The majority of businesses in resort towns target tourists.
Who is the luxury hotel industry's target customer?As you can see, a wide range of people from across all walks of life who are prepared to pay a little extra for the luxury hotel experience makes up the target audience for luxury hotels.
What advantages come from forming and focusing on prospect groups?Overall, specialization is the main advantage of identifying and pursuing niche markets. Finding more wealthy guests who will gush about your hotel will be easier if you can be more precise with your market segmentation.
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The pro-globalization argument from the mid-1940s until the early 2000s was based on the idea that free trade and open borders created a benefit for all countries. This argument is based on_________.A. the law of comparative advantageB. parochialismC. the law of competitive advantageD. uncertainty avoidanceE. social responsibility
Answers
The pro-globalization argument from the mid-1940s until the early 2000s was based on the idea that free trade and open borders created a benefit for all countries. This argument is based on: A. the law of comparative advantage.
What is the law of comparative advantage?The law of comparative advantage is a fundamental concept in economics that suggests that countries should specialize in producing goods and services in which they have a lower opportunity cost than other countries, and then trade with each other to maximize their overall economic welfare.
By allowing countries to specialize and trade freely with each other, the law of comparative advantage suggests that all countries can benefit and achieve greater levels of economic growth and prosperity.
Therefore the correct option is A.
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What is service enterprise
Answers
Hours of labor or number of workers are common ways of measuring a company’s
Answers
Answer:
It is productivity
Explanation:
3) Read the scenario. Then, choose the best answer.
While a junior in high school, Javier accepted a job stocking shelves at a local grocery store. He makes an hourly wage of $8.50. He is paid semimonthly and works an average of 20 hours per week.
What is Javier’s annual income?
$8,160
$3,480
$8,840
$13,200
Answers
Answer:
$8160
Explanation:
Hourly wage is 8.50
He works 20hours per week
Weekly pay is 8.50x 20 = 170
Semi monthly is twice a month
Semi month he receives 170 x 2= 340
Monthly he receives 340x2 =680
Annual income is 12 months = 680x 12
$8160
Samira works for a company with a strict top-down structure. Her daily tasks must conform carefully to written guidelines and rules, and she has very specific job responsibilities. Samira works for a(n) ______.
Answers
Answer:
Samira works for a mechanistic organization.
Explanation:
A mechanistic organization is one in which decision making is very centralized and hierarchical. The name of mechanistic organization comes from an analogy with a "machine", machines are run based on predetermined algorithms, and mechanistic organizations can be so rigid as to seem like they run almost like perfect machines.
If I am to leave a place at 12:00 am and it is 9:35 am now, How long until I leave at twelve?
Answers
When you look out your window and see a large, brown truck parked in your driveway, with a person in a brown uniform carrying a package to your front door, do you know who it is without reading the truck’s lettering? Maybe you recognize the standard colors of UPS—a package delivery service that falls into the Transportation and Logistics Career Cluster. Do some research online to find four specific jobs at UPS. See if you can identify the career pathway that each one falls under. Then describe the location in which each professional would likely work.
Answers
Answer: There are many different types of people the work at UPS here are a few. First of all, there is a Warehouse worker that works in a warehouse and sorts out packages. Secondly, there is an automotive technician wich changes and repairs basic truck parts and works at the truck lot or in a garage. Also, there is a billing associate which works in a corporate office. Lastly, there is a delivery person the most commonly known UPS worker that delivers packages to people and works mainly on the road (in a truck on the road not literally like a construction worker on the road).
Explanation:
Here are just a few of the many different types of people who work at UPS. First, there is a warehouse worker who organizes parcels while working in a warehouse. Second, there is an automobile mechanic who works at a truck lot or in a garage and changes and fixes standard truck parts.
What is meant by Transportation and Logistics ?Logistics refers to acquiring, producing, and distributing commodities to a final consumer in the appropriate quality. The planning, management, and use of procedures for the most effective and efficient storage and movement of goods and services are all included in the field of logistics science.
Services and other information are sent through logistics channels from the source point to the consumer in order to satisfy and meet customer needs. In comparison to transportation services, logistics has more benefits and completes more tasks. Logistics managers must make decisions based on aspects such as packaging, containerization, documentation, insurance, storage, importing and exporting, rules, and freight damage.
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ASAP PLEASE!
_______ is a system of related goods and integrated services are bundled together and sold in the place of independent and isolated items
Answers
Answer:
Systems Selling
Explanation:
Jack offers to sell Jill his automobile for $10,000. Jill says she must think about but that she is not rejecting his offer. Jill goes home that day and comes to the realization that $10,000 is a great deal. She sends Jack a letter of acceptance by mail at 4pm by placing it in the drop box at the post office. Jill did not know that Jack had sent her a revocation letter at 3:30 from a different post office. The letter of revocation is scheduled for delivery the next day at 10am. What result
Answers
Answer:
The sale of the car is canceled
Explanation:
For two reasons I think this. Jack had already sent out a letter to jill stating that the car is no longer for sale. As the current owner of the vechile he has the right at any point in time to draw out of the deal up till the actual signing over of the car.
Which type of interest is charged on both the original amount borrowed and
the interest that has already accumulated?
A. Corporate interest
B. Bankruptcy interest
C. Simple interest
D. Compound interest
Answers
Answer: compound interest broski
Steve has worked 36 hours this week at $10/hour. On his last shift of the week he clocks in at 8:05 am and takes his lunch at 11:53. He comes back from lunch at 12:35 and clocks out at 4:56. How much will Steve's Gross Pay be?
Answers
Answer:
$441.5
Explanation:
Hours already worked = 36 hours
Rate = $10 / day
Number of hours worked on last shift :
8:05 - 11:53 = 3 hours 48 minutes
12:35 - 4:56 = about 4 hours 21 minutes
Total hours (3 hours 48) + (4 hours 21 minutes). = 8 hours 9 minutes
Hence, total hours worked that week :
36 hours + 8hours 9 minutes
44 hours 9 minutes
Rate = $10 / hour
(44*$10) + (9/60 * $10)
$440 + $1.5
Gross pay = $441.5
interest incurred, but not yet paid during an accounting period, should be recorded as an expense and a(n) . multiple choice question. revenue contra account asset liability
Answers
Interest incurred, but not yet paid during an accounting period, should be recorded as an Accrued Expense.
Accrued Expense is an expense which is incurred in one accounting period but not yet paid.
Recording an accrued expense means that transaction has been recorded when it incurred but not yet paid.
It is shown on the liability side of the balance sheet as a current liability because it makes obligation for the company to pay its expenses.
It helps in showing the true and fair view of the financial statements .
It requires more journal entries to record than simple cash balance accounting.
It increases both expense and liabilities as unpaid bills get accumulated.
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Your friends sees your answer #1 and assumes that each of those people has a high credit score . Why is your friend incorrect ?
Answers
Answer:
To have a high credit score, you must have been consistent with your debt repayment since you started taking loans.
Your friend would therefore be incorrect in assuming that all those who did not miss a payment in one single year will all high credit scores because your friend is not taking into account the previous years.
Some of those people might have delayed or defaulted on previous loans for one reason or the other but were able to keep up with new payments in 2015. Whilst this would improve their credit score, it would still be low as a result of the actions of the previous years that decreased it.
Why does the United States have an advantage over other countries in producing many different products for export?
Consumption greater than production
O Abundance of natural resources
O Lowest unemployment rate
O Mandatory education
Answers
Due to its wealth in natural resources, the United States has an advantage over other nations in creating a wide range of items for export.
Natural resources include any biological, mineral, or aesthetic asset provided by nature unaided and capable of being used for some sort of advantage, whether tangible (economic) or intangible. It has changed over time and from one community to another what is seen as a export "resource" (or, for that matter, "natural"). In addition to energy resources (like petroleum, natural gas, and heated water [that is, geothermal energy] contained within layers of rock), forests, surface water, groundwater, fertile lands, or the soil and minerals within them (rather than the crops that grow on them), are natural resources examples of assets that can be considered natural resources.
Natural resource management is a practice that takes into account how civilizations control the availability of or access to the natural resources that are essential to their existence and economic growth. According to natural resources certain definitions, management is only necessary for natural resources that can regenerate on their own and whose use export depends on this ability. For instance, oil is not typically seen as a topic of natural resource management.
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what are the economic effects of the participation of a large number of middlemen in the distribution of goods in any west African country
Answers
1. Increased costs: With a larger number of middlemen involved, each participant adds their markup or commission to the goods, leading to higher prices for consumers. This can reduce affordability and purchasing power.
2. Inefficiencies and delays: More middlemen in the distribution chain can result in increased bureaucracy, longer supply chains, and delays in getting goods to the market. This can lead to inefficiencies and higher transaction costs.
3. Employment opportunities: The presence of numerous middlemen can create employment opportunities, especially for those involved in transportation, logistics, and small-scale trading. It can contribute to local economic activity and livelihoods.
4. Market access and reach: Middlemen often have extensive networks and local market knowledge. Their involvement can help facilitate the movement of goods to remote areas, connecting producers with consumers who may not have direct access to the larger markets.
5. Informal economy: In some cases, the prevalence of middlemen can contribute to the growth of the informal economy, where transactions may go unrecorded and tax revenue may be missed. This can pose challenges for economic planning and government revenue collection.
6. Potential for corruption: With a large number of intermediaries, there is an increased risk of corruption, price manipulation, and unfair practices. This can undermine market efficiency and create barriers for fair competition.
It's important to note that the economic effects can vary depending on the specific context and how the distribution system is structured and regulated within each West African country.
what would be the rofit or loss per hsare of stock to an investor who bought the october 2015 expiration
Answers
If an investor bought an October expiration Apple call option with an exercise price of $130 and an option premium of $3.00, and Apple closed on the expiration date at $120, the option would expire out of the money and the investor would not exercise the option.
In this situation, the investor would lose the entire $3.00 per share option premium. This is because the investor paid a premium to have the right to buy Apple stock at the exercise price of $130 per share, but because Apple stock is currently trading below the exercise price, there is no benefit to executing the option. As a result, the investor would lose the premium paid, which is $3.00 per share.
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The following question may be like this:
What would be the profit or loss per share of stock to an investor who bought an October expiration Apple call option with an exercise price of $130 if Apple closed on the expiration date at $120? Assume the option premium was $3.00.
What is a likely trend for social media in the future?
You may see smaller groups forming.
You may see more diverse groups forming.
You may see larger groups forming.
You may see less specific groups forming.
Answers
Answer:
I would go with either A or B.
Explanation:
Not all social media trends start in large groups. Some can start by 1 person.
Answer:
I will go with the second one because the world is becoming more excepting of other groups besides their own
Explanation: can I get brainliest i have never got it
How should the headings of a resume be formatted so that they are clear and easy to find?
a. bold and italicized
b. capitalized and bold
c. underlined and italicized
d. capitalized and underlined
Answers
Answer:
B. capitalized and bold
Explanation:
Please mark my answer as the Brainiest!!!
Got it correct on Edge.
Assess the effectiveness of the security policy and the methods used to raise and improve organizational security
Answers
The effectiveness of the security policy and methods used to raise and improve organizational security is subjective and depends on various factors such as the specific policy measures implemented, the organization's security goals, and the evolving threat landscape.
Assessing the effectiveness of a security policy involves evaluating its alignment with industry best practices, legal and regulatory requirements, and the organization's unique security needs. The methods used to raise and improve security may include risk assessments, employee training, access control measures, incident response plans, and regular security audits.
It's important to continually review and update the security policy based on emerging threats, technological advancements, and feedback from stakeholders. Regular evaluations, metrics tracking, and incident analysis can help identify areas for improvement and ensure the policy remains effective over time.
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Type the correct answer in the box. Spell all words correctly.
William works at an advertising agency. His company regularly sends out informative documents to its existing clients. He is in charge of the design of
this document that has detailsabout the agency's various campaigns and activities. Which kind of document is William designing?
William is designing a _________
It’s not newsletter
Answers
Answer:
He is designing a presentation.
Answer:
Explanation:
Newsletter and presentation are two answers on Brainly previously.
Not sure at what level this question is asked but in the real world, William is designing a portfolio for his advertising agency.
Insurance Plan Summary
Deductible
$5,000.00
Wellness Exams
No-deductible
100% covered
What is the monthly
payment an employee
with a family plan on
this health plan is
required to pay, even
if they do not visit a
doctor or hospital?
Premium (monthly)
Individual
$45.00
Individual+Spouse
$400.00
A. $5,000.00
B. $45.00
C. $400.00
D. $0
Answers
Review of ratings & the 80/20 Rule
Rate Review and the 80/20 rule are two tools provided by the health care law to hold insurance companies accountable and assist in limiting costs.
Review of Rate
You are better protected from arbitrary rate increases thanks to Rate Review. Any rate increase of 15% or more must now be disclosed publicly by insurance firms before your premium is increased. Plans that are grandfathered in are exempt from this.
To view the planned and actual rate increases for your insurance plan, look it up online.
80/20 Rule
According to the 80/20 Rule, insurance firms must spend at least 80% of the premium revenue they receive on healthcare expenses and quality-improvement initiatives. Costs for administration, overhead, and marketing can be covered by the remaining 20%.
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Type a paragraph explaining how you have shown initiative in the past. Use proper grammar, spelling, and punctuation.
Answers
Answer: Your previous place of work or employment. A specific instance where you showed initiative. How your initiative impacted yourself or the company.
Explanation:
Please help in this question asap
Answers
Answer:
All of these
Explanation:
do I need to explain lol?? :]
branches of accounting
Answers
Financial Accounting. Financial accounting is a systematic method of recording transactions of any business according to the accounting principles.
Cost Accounting. Cost accounting is considered a type of managerial accounting.
Auditing.
Managerial Accounting.
Tax Accounting.
Forensic Accounting.
Fiduciary Accounting.
According to the video, which tasks are Special Education Teachers likely to perform? Check all that apply
teaching basic subject material
driving students to and from school
working with educational technology
working with and meeting with parents
preparing lesson plans
volunteering in public libraries
interviewing other teachers to hire
Answers
Answer:
A,C,D,E
Explanation:
All right
Answer:
A,C,D,E
Explanation:
32 Environmental recovery company RexChem Partners plans to finance a site reclamation project that will require a 4-year cleanup period. If the company borrows $4.1 million now, how much will the company have to get at the end of each year in order to earn 15% per year, compounded quarterly on its investment? Additionally, what is the spreadsheet function?
Answers
The annual cash flow required by RexChem Partners to achieve a 15% annual interest rate on its investment of $4.1 million over the 4-year site reclamation project period is $345,403.
To find the annual cash flow needed, we can use the formula for the future value of an ordinary annuity:
FV = Pmt * ((1 + r/q)^(n*q) - 1) / (r/q),
where:
FV = Future value of the annuity,
Pmt = Annual cash flow,
r = Annual interest rate (15% or 0.15 as a decimal),
q = Number of compounding periods per year (quarterly means q = 4),
n = Number of years (4 years in this case).
Substituting the given values into the formula:
$4,100,000 = Pmt * ((1 + 0.15/4)^(4*4) - 1) / (0.15/4),
Now, solve for Pmt:
Pmt = $4,100,000 / (((1 + 0.15/4)^(4*4) - 1) / (0.15/4))
= $345,403
Using a spreadsheet function, such as Microsoft Excel, the formula to calculate the annual cash flow required is:
=PMT(0.15/4, 4*4, -4100000).
The annual cash flow required by RexChem Partners to achieve a 15% annual interest rate on its investment of $4.1 million over the 4-year site reclamation project period is $345,403.
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The foundation of a marketing plan.
Answers
Answer:
Every marketing plan should include a clear explanation of the market segmentation, target market focus, and a market forecast. To develop an effective plan based on your customers' needs and nature.