In a Las Vegas casino, an employee discovered a flaw in the accounting system. The accounts payable clerk discovered that he was able to change the names of vendors in the computer system to his name. As a result, the employee could create false invoices and then cut a check for the false invoice. The name on the check would be changed to the name of the employee. After the check was printed, the name in the system could then be changed back to the appropriate vendor. The check register would show only the name of the vendor. The fraudulent employee had authorization to sign checks under $1,000. By writing small checks, the employee was able to defraud the company of $10,000. This fraud was caught by accident then the employee of another department was looking through the vendor list on her computer after the fraudulent employee had changed the vendor name to his name. A few entries later, the vendor name changed again. She wondered how this could occur and asked her supervisor. Soon after, the fraudulent employee was caught.
1. What kind of fraud is being committed?2. What percent of frauds are of this type?3. How could this fraud have been prevented?
Answers
Answer:
- This type of fraud is check tampering
- It amounts to 20.1% of fraud cases in small businesses, and 8.4% of fraud in large businesses
- This type of fraud can be prevented by rotating employees that handle check issuance to vendors, review of budget versus actual expenditure, monitoring of audit trail to see if beneficiary was changed, daily statement download for reconciliation, and restriction of functions for example a employee that issues checks should not also reconcile bank statement.
Explanation:
Check tampering is a very common fraud that involves changing the beneficiary of a valid check so that funds can be diverted.
In the given scenario the accounts payable clerk was able to change checks to his name in order to divert $10,000. This was only discovered by chance when an employee noticed the change in name.
Various internal control measures can be taken to prevent this and they are listed above
Related Questions
what is the yearly salary or hourly wage of a librarian?
Answers
Answer:
$61,920, or $29.77
Explanation:
Answer:
The average hourly rate for Librarian ranges from $27 to $38 with the average hourly pay of $32.
Explanation:
The average salary for a Librarian is $58515 per year in United States.
Salaries start from $34630 and go up to $93050.
is the amount of money you need to deposit now to attain a desired amount of money in the future.
1_Automatic value
2_Present value
3_Time value of money
4_Future value
Answers
Answer:
C
Explanation :
D
Q2. The office manager of ABC company has the authority to the whole financial operations. He authorizes activities, controls the company’s expenses, records the company’s transactions, and rarely takes vacation.
The owners of the company are happy with his work since the company is making a profit. You are giving the opportunity to educate the owners about the risk of not implementing internal control. What would be your advice?
Answers
My advice to the owners of ABC Company concerning internal controls affecting the office manager would be as follows:
It is time to promote the office manager. His promotion would relieve him of the responsibilities he handles presently. Promoting him would also enable management to segregate his duties.
Secondly, after implementing the promotion and segregation of duties, management should implement a compulsory annual leave policy. Having a company-wide leave policy bolsters internal controls by preventing and discovering suspicious fraudulent activities.
Thus, if the owners of ABC Company would buy these pieces of advice, they would improve internal controls without offending the hardworking former office manager.
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ASAP! GIVING BRAINLIEST TO THE CORRECT AWNSER.
Answers
Answer:
a: to provide government revenues
Explanation:
becuase its right
can i have brainliest now
PLEASE HELP ME IM STUCK ON THIS
Answers
Ali enjoys her graphic design class, and her friends and teachers often tell her she has a good eye for detail. Which type of education and career would best fit Ali’s artistic talents?
O. completing an apprenticeship to become a carpenter
O. earning an associate’s degree to become a construction supervisor
O. completing physical training to become a construction laborer
O. earning a bachelor’s degree to become an interior designer
Answers
Answer:
D. earning a bachelor's degree to become an interior designer
Explanation:
Answer:
D
Explanation:
Just took the test
(100 POINTS!) Craig is designing his website and looking for some free photos to help add visual appeal to his site. He wants general images of people working on computers and using social media. What kind of photography genre will Craig look in to find these images?
A. propaganda photography
B. creative stock photography
C. fashion photography
D. fine art photography
Answers
Craig is likely looking for images from the genre of creative stock photography to find photos of people working on computers and using social media. Creative stock photography is a collection of commercially licensed photographs that can be used in various media projects, including websites, brochures, and advertisements. These photos are usually taken with a specific use in mind, like demonstrating a particular lifestyle or concept, and are meant to be appealing and visually appealing to a wide audience.
If a product is faulty, what is the responsibility of the retailer who sold it?
A. Replace the product or refund the purchase price
B. Provide the consumer with contact information for the
manufacturer
C. Do nothing because only the manufacturer has responsibility
D. Call the manufacturer on behalf of the consumer
Answers
Hope this helps have an excellent day!
Project manager Anna is working with her team on risk management. Match the components of risk management with what each component involves.
Answers
The components of Risk Management are written below:-
Risk Evaluation involves:-
includes risk identificationincludes analysis of consequencesincludes impacts of risks and responsesRisk Control involves:-
includes action for minimizing risksincludes risk monitoringincludes prioritization of measuresRisk management is the process of identification, prevention and mitigation of risks. This process is used by the companies to avoid any monetary losses or unexpected events. Risk evaluation defines the seriousness of the risk and is considered to be the quantitative part of the assessment. Risk control is identified as one of the tools which can be used under risk management.
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You have 24 cups of milk.
You need 1.25 cups to make one serving of deep-fried chicken.
How many servings can you make? Whole servings only - round down
rather than using partial servings.
Answer:
to make a servings of roast beef gravy.
Answers
Answer:
19.2 serving
Explanation:
Because if you have 24 cups of milk and need 1.25 cups to make 1 serving we would have to divide.
24 cups of milk - 1.25 cups of milk per serving = 19.2
Which answer best illustrates what trade-offs are?
Answers
7. How does the quality of management relate to each of these causes of small business failure?
Answers
Answer:
Explanation:
The quality of management can have a significant impact on each of the causes of small business failure. Poor management can lead to financial mismanagement, which can cause a business to run out of cash and become insolvent. Ineffective management can also result in a lack of clear goals and direction, leading to a lack of focus and poor decision-making. Additionally, poor management can lead to problems with staffing and employee morale, which can negatively affect productivity and customer satisfaction.
On the other hand, good management practices can help a small business avoid these problems and increase the likelihood of success. Good management involves setting clear goals and making sound financial and strategic decisions, as well as effectively managing and motivating employees. By addressing these issues, a small business can improve its chances of avoiding failure and achieving long-term success.
Which of the following allows a person to withdraw money early from their individual retirement account (IRA) without penalty?
Answers
Loan provisions are possible but not necessarily in a qualified plan. If a plan allows loans, the amount that may be borrowed may be constrained by the plan.
What is considered an individual retirement account?Your ability to save money for retirement tax-advantageously is enabled by an individual retirement account (IRA). With the help of an IRA, a person can save money for retirement while enjoying tax-free growth or deferring taxes. An IRA is an account set up at a financial institution.
By multiplying the value of your Traditional IRA by a life expectancy factor chosen by the IRS, you can determine the amount of your RMD. Your RMD must be calculated separately for each IRA, but you are free to withdraw your entire RMD amount from either one IRA or a group of IRAs.
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(Just need some ideas and inspiration) What do you consider the most important challenge that will face people in the United States in the years ahead?
Answers
Food security, hunger, poverty, population growth, pollution, heatwaves, droughts, and climate change are all interconnected.
What is Food security?Food security refers to the availability of food in a nation and the capacity of its citizens to obtain, afford, and procure enough food.
The United Nations Committee on World Food Security defines food security as everyone having constant physical, social, and economic access to enough, safe, and nourishing food that satisfies their dietary needs and food preferences for an active and healthy life.
Another aspect of food security is the accessibility of food regardless of class, gender, or area.
Food security was a problem many thousands of years ago, as shown by the fact that central governments in ancient China and ancient Egypt were known to release food from storage during famines.
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Explain two advantages to TGH of segmenting the market for sport shoes
Answers
1. Targeted Marketing: By segmenting the market, TGH can identify specific groups of consumers with distinct needs, preferences, and behaviors related to sport shoes. This allows them to tailor their marketing efforts and product offerings to meet the specific demands of each segment. For example, they can develop different marketing messages, designs, or features for segments such as professional athletes, casual runners, or fashion-conscious individuals. This targeted approach enhances the effectiveness of marketing campaigns, leading to increased customer engagement, brand loyalty, and ultimately, higher sales.
2. Competitive Advantage: Segmenting the market can help TGH gain a competitive edge over rivals. By focusing on specific segments, TGH can better understand their unique requirements and deliver superior products and services compared to competitors who adopt a more generic approach. This can lead to enhanced customer satisfaction and loyalty within those segments. Additionally, TGH can identify niche or underserved segments within the sport shoe market and develop specialized products to cater to their needs. By catering to these niche segments, TGH can differentiate itself from competitors and establish a strong position in the market.
Overall, market segmentation allows TGH to optimize their marketing efforts, cater to diverse consumer needs, and gain a competitive advantage by focusing on specific market segments.
Complete the fish-bone chart by matching each number in the chart with the corresponding reason.
LOADING... Click the icon to view the partially completed fish-bone chart.
Number
Reason
I
▼
II
▼
Traffic jam
Flat tire
Speeding - got stopped
Can't find keys
III
▼
Traffic jam
Can't find keys
Flat tire
Speeding - got stopped
IV
▼
Answers
Often, the only maintenance provided by industrial property management is A) upkeep of grounds and exterior of the building. B) cleaning office space. C) cleaning common areas including restrooms and elevators. D) refurbishing the factory floor.
Answers
Answer: A) upkeep of grounds and exterior of the building.
Explanation:
An Industrial Property Manager as the title implies refer to overseeing the use and utilization of an Industrial property such as factories, Manufacturing plants and Research and Development centres.
As a manager of such a property, your job is mostly limited to ensuring that the surroundings look neat because the interior of the building falls under the purview of the tenants and they will carry out some type of maintenance in there to ensure that the building is viable for their type of machines.
Selected transactions for the Joel Berges Company are presented in journal form below.
Date Account Titles and Explanation Ref. Debit Credit
5-May Accounts Receivable 4,100
     Service Revenue 4,100
       (Billed for services performed)
12 Cash 2,400
    Accounts Receivable 2,400
      (Received cash in payment of account)
15 Cash 3,000
    Service Revenue 3,000
       (Received cash for services performed)
Required:
Post the transactions to T-accounts and determine each account's ending balance.
Answers
Answer:
1. Cash
Date Amount Date Amount
12 May $2,400
15 May $3,000
Ending Bal. $5,400
2. Account Receivables
Date Amount Date Amount
5 May $4,100 12 May $2,400
Bal C/D $1,700
$4,100 $4,100
Ending Bal. $1,700
3. Service Revenue
Date Amount Date Amount
5 May $4,100
15 May $3,000
End Bal. $7,100
a. Các khoản tiền phát sinh ở cuối mỗi năm là 680 triệu đồng trong thời kỳ 8 năm với lãi suất 6%/năm, ghép lãi 6 tháng/1lần, tại thời điểm cuối năm thứ 8.
Answers
Explanation:
English plz I don't understand
Dog Up! Franks is looking at a new sausage system with an installed cost of $520,000. This cost will be depreciated straight-line to zero over the project’s five-year life, at the end of which the sausage system can be scrapped for $83,000. The sausage system will save the firm $154,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $32,500. If the tax rate is 23 percent and the discount rate is 11 percent, what is the NPV of this project?
Answers
The net present value of the project is $-40,793.30.
What is the net present value?Net present value is a capital budgeting method that is used to determine the profitability of a project. The net present value is the present value of the cash flows expected from the project less the cost of the project.
When using the net present value, a project should only be accepted if its net present value is positive. This is because it means that the project is profitable.
Cash flow from the project = (amount the project will save the firm - depreciation) x (1 - tax) + depreciation
Terminal year cash flow = salvage value + net working capital - tax(salvage value - book value)
Depreciation = (cost of the asset - salvage value) / useful life
($520,000 - 0) / 5 = $104,000
Cash flow from the project = ($154,000 - $104,000)(1 - 0.23) + 104,000
= ($50,000 x 0.76) + 104,000 = $142,000
Terminal year cash flow = $83,000 + $32,500 - (0.23 x $32,500) = $108,025
Net present value can be calculated using a financial calculator:
Cash flow in year 0 = $520,000 + $32,500 = $552,500
Cash flow from year 1 to 4 = $142,000
Cash flow in y ear 4 = $108,025
I = 11%
NPV = $-40,793.30
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Purchased a 1000$ bond for 950$. I'll get 50$ a year and it matures in 20 years. I want to know the interest rate I am earning.
Answers
This section is based on the case study titled: Maximising Media Relations for Effective Program Execution: UNICEF in Nigeria. This case study is found under the lesson 3 folder, and copies are under the additional resources folder. Please answer all these questions and ensure that you use the correct numbering as given in the question itself.
1. According to the case study, what is the role of public relations? [4]
2. Who are the stakeholders in this case study and their interests [5]
3. What were the strategic tactics and techniques used in the campaign [6]
4. What research methodology was used to develop this plan and discuss whether the programme was successful or not successful in your perspective. Provide evidence from the case study to support your argument. [10]
5. “For effective media relations, the public relations practitioner must understand how the media function and how reporters work” – (Baskin et al, pp:179). As a public relations practitioner what is your assessment of the use of mass media
in this programme and was the use of mass media the best option vs social media in
the programme? (We want to see the student present their own argument here) [5]
6. What did you learn in this case study? [5]
Answers
UNICEF in Nigeria uses strategic strategies and approaches for stakeholder engagement to maximize media relations for effective program execution. Here are the responses to the prompts.
What about the case study?This case study highlights how essential public relations is when it comes to creating a positive image for an organization while building meaningful relationships with important stakeholders.
In this instance UNICEF was determined to raise awareness regarding their programs in Nigeria by engaging local community leaders while effectively communicating their message to citizens via media outlets. Conversely Nigerias government prioritized developing strategies which addressed citizens' needs coupled with enhancing its reputation. The stakeholders involved included: UNICEF representatives; Nigerian government officials; members of various influential media organizations; respected community leaders; as well as concerned members of society at large.
To implement effective strategies required tactical thinking alongside techniques such as holding press conferences/ interviews with key players in local/the national press corps; partnering with appropriate organizations/media personalities across identified relevant industries: e.g governance/community activism or where its most needed. Various research methods were employed inclusive of conducting situational analyses regarding media trends in Nigeria.
Also stakeholder analysis was crucial to identify key targets that helped achieve desired outcomes. The UNICEF program gained excellent traction among its target audience through effective outreach and significant coverage.
As a practitioner involved in public relations work I believe that incorporating mass communication was instrumental in broadening the scope for the advocacy messages and amplifying visibility around necessary programs run by UNICEF globally. Moreover using social media channels served as a valuable medium through which younger demographics could be successfully engaged while receiving personalized insights.
The case study has several vital implications regarding understanding regional media landscapes and establishing relationships with important players operating within the regions.
Collaborative partnerships between local communities alongside other organizations pursuing common goals can result in expanded outreach capacity leading towards new opportunities for positive change. Finally this multifaceted approach utilizing various channels became pivotal not only for generating better visibility but also raising awareness on issues championed by UNICEF globally.
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Explain the Framework for doing business policy
Answers
Answer:
A policy framework is document that sets out a set of procedures or goals, which might be used in negotiation or decision-making to guide a more detailed set of policies, or to guide ongoing maintenance of an organization's policies.
When a serious customer injury occurs due to product contamination, you need to make contact with your DL and QA within
Answers
Serious injuries due to product contamination need to be reported within a day or 24 hours to DL and QA
Product contamination occurs as a product is in contact with a chemical, bacteria, fungi, etc., or any other substance that is not part of the regular composition of the product.
Product contamination is a serious issue that can lead to disease, accidents, and even death. Due to this, if product contamination occurs and this causes an injury this needs to be reported as soon as possible, usually within 24 hours.
This is important because the company that produces the product can:
Provide a solution or compensation to victims.Find the cause of contamination.Prevent serious injuries in other users.Moreover, this should be reported to areas such as Quality Assurance (QA) that verify the quality of products.
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At year-end, a trial balance showed total credits exceeding total debits by $4,950. This difference could have been caused by: ______________
a. An error in the general journal where a $4,950 increase in Accounts Receivable was recorded as an increase in Cash.
b. A net income of $4,950.
c. An error in the general journal where a $4,950 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
d. The balance of $5,500 in the Office Equipment account being entered on the trial balance as a debit of $550.
e. The balance of $49,500 in Accounts Payable being entered in the trial balance as $4,950.
Answers
There are ways to know the differences in account. This difference could have been caused by An error in the general journal where a $4,950 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
What is a trial balance?A trial balance is a document that depicts all asset, liabilities etc. It is often prepared so as to ensure that posting of amounts and accounts are done well and right.
Here, the Total debits must equal total credits. The issue could have been caused by option d due to different factors.
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Crane Company uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2019 totaled $20000 of materials, $16000 of direct labor costs, and $13000 of manufacturing overhead applied. The company ships all goods as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning work in process totaled $22000, and the ending balance is $16000. During the year, the company completed 25 machines. How much is the cost per machine
Answers
what is a likely result of an increase in trade between nations
Answers
Answer: It will provide consumers with more choice at lower prices
Explanation:
Explain how passengers benefited from the competition in South Africa.
Answers
The passengers benefited from the competition in South Africa by the deregulation as it included the variety of the airlines in the domestic countries.
what is deregulation?Deregulation refers to the removal of the restrictions on any particular industry. The south Africa deregulated the airlines industries.
They were immensely benefited with removal of the restrictions through very low fares rate of the airlines in the domestic countries and by this decision the monopoly of any particular industry was removed.
Thus the passengers were greatly benefited by the deregulation of the airlines industries.
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Who will be the first Trillonare in this world ?
Answers
The person who is expected to become the first Trillionaire is Jeff Bezos, founder, and CEO of Amazon.
According to a study conducted by Comparison, Jeff Bezos could become the world’s first Trillionaire by the year 2026. This prediction was made on the basis of the average percentage of growth of Bezos’ net worth over the last five years. The study also highlighted that Bezos’ wealth has grown by an average of 34% over the last five years. At this rate of growth, his net worth could reach $1 trillion by the year 2026.
However, the current COVID-19 pandemic has had a negative impact on the economy, and Bezos’ net worth has already decreased by over $20 billion since the start of the pandemic. Despite this, it is still possible that Bezos may become the world’s first Trillionaire in the future, but there are also other contenders who could reach this milestone, such as Elon Musk, CEO of Tesla and SpaceX. However, as of now, there is no confirmed Trillionaire in the world.
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instance, think about the jobs listed below. While those in positions like these get to work
in and around show business, the functions they perform are based right in the clusters we
considered today: Business Management, Finance, Marketing and Sales. See if you can
search online to find what is involved with these three specific jobs. Can you find an example
of someone who holds this position? What do the do? How might their job allow them to
feel like a part of Hollywood?
Senior Vice President of Theatre Operations
Media Production Accountant
Social Media Director, Film Marketing Agency description of each of the three careers that you researched, including what tasks the
job requires and why the job is so important
2. A breakdown of the education requirements for each career, including subjects that might
be beneficial in preparing for each career
3. The projected annual salary for someone in each career and the job outlook according to
the Bureau of Labor
4. A summary of why you think this job is a good choice for someone who is interested it
"show business*
Answers
Each of these careers can be a good choice for someone interested in "show business" as they offer opportunities to work closely within the entertainment industry and contribute to its success. They provide a chance to be involved in the operations, financial management, marketing, and promotion of films and theaters.
Senior Vice President of Theatre Operations:
This role involves overseeing the operations and management of theaters within a company. Responsibilities may include developing and implementing operational strategies, managing budgets and financial performance, coordinating with production teams, ensuring smooth theater operations, and enhancing the overall customer experience. An example of someone who holds this position is Mark Manuel, Senior Vice President of Theatre Operations at AMC Theatres.
Media Production Accountant:
A media production accountant is responsible for managing the financial aspects of film and television production. They handle budgeting, cost tracking, payroll, financial reporting, and ensuring compliance with industry regulations. Their role is crucial in managing the financial resources of a production, tracking expenses, and providing accurate financial information for decision-making. Relevant education in accounting or finance is essential for this career, and knowledge of the entertainment industry can be beneficial.
Social Media Director, Film Marketing Agency:
As a social media director in a film marketing agency, the role involves developing and implementing social media strategies to promote films. They oversee social media campaigns, manage content creation, engage with audiences, analyze performance metrics, and work closely with marketing teams. Their job is important in building an online presence, creating buzz, and engaging fans within the film industry. A background in marketing, communication, or digital media is typically desired for this role.
Each of these careers can be a good choice for someone interested in "show business" as they offer opportunities to work closely within the entertainment industry and contribute to its success. They provide a chance to be involved in the operations, financial management, marketing, and promotion of films and theaters. These roles allow individuals to work behind the scenes, making critical decisions and supporting the overall success of productions. Additionally, being part of the entertainment industry can be exciting and fulfilling for those passionate about the world of show business.
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