Answer:
1. Once a month, the sales department sends sales invoices to the accounting department to be recorded.
⇒ documentation procedures
Unless all of the company's sales take place only once a month, sales should be recorded as soon as possible. Accounting records must be as precise and accurate as possible, and they must be processed on time. Stacking invoices makes no sense, since sales might be on cash or the collection period might be very short. Who holds the money until the sales records are made?
2. Leah Hutcherson orders merchandise for Rice Lake Company; she also receives merchandise and authorizes payment for merchandise.
⇒ segregation of duties
One single person cannot be responsible for the whole process, since this creates a huge opportunity for fraud. Imagine if the person in charge of the inventory is also in charge of making new purchases, paying for them and reporting ending inventory. No company would be able survive one year, while the person in charge would get rich.
3. Several clerks at Great Foods use the same cash register drawer
⇒ establishment of responsibility
If everyone is allowed to collect money, no one can be responsible for any loss.
Answer:
D) AIG
Explanation:
We went back in time to 2008 and we are in the middle of the subprime mortgage crisis. This is an example of how mortgage backed securities and collateralized debt obligations worked.
The problem with this scenario is that in order for every company involved to be able to make a profit, the mortgages' interest rates skyrocketed which made it harder for families to pay back their loans. This eventually made the families lose their houses and that was the end to the housing bubble and the whole economy collapsed.
<span>Selection C is the most appropriate. By establishing credibility at the outset of your proposal, you can make it clearer that you understand the scope of the problem you're trying to solve. This can also make is easier for your supervisor to develop questions that he or she may have as a way of teasing out some more specifics about your plans and suggestions.</span>
Answer:
Here are some steps to be taken to avoid being a victim of consumer fraud:
- Spot Imposters: Scammers often pretend to be someone else, especially one you can trust, like a government official.
- Online searching: Search about the company of product online to see if it is legit or not.
- Don't pay in advance: Scammers always try to get money in advance, in terms of taxes or fees.
- Discuss with someone: Before giving someone your money, talk to someone you trust or preferably to an expert.
- Personal information: Don't given any unknown person your personal information, money, or any kind of financial details
