The general guideline for the segregation of duties is that the following areas should be separated by accounting controls : 1. custody of assets, 2. authorization of transactions, and 3. record-keeping responsibilities.
<h3>Give a brief account on segregation of duties.</h3>
The assignment of distinct steps in a process to different personnel is known as the segregation of duties. By exercising extreme control over a process, the goal is to prevent situations in which someone might steal something or do another fraud. In essence, distinct parties should have physical custody of an asset, record-keeping responsibilities for it, and acquisition and disposal authority.
A key component of a control system is the separation of roles. When evaluating an entity's system of internal controls, auditors will consider duty segregation and will give the system a lower rating if there are any segregation problems.
The auditors will change their methods when there are segregation problems because they will presume that the danger of fraud has increased. This method shift typically entails a rise in audit workload, which is passed on to the customer in the form of higher audit fees.
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Answer: =-9.34%
Explanation:
Assuming the brokerage account pays no interest on your cash, the return, relative to the collateral will be calculated as:
= (Short sell price - dividend - Share buy price)/Capital employed
= (5433 - 100 - 5600) / 2850
= -267 / 2850
= -0.09368
=-9.34%
Note:
Short sell price = 54.33 × 100 = 5433
Dividend = 100
Share buy price = 56 × 100 = 5600
Answer:
mutual funds
bonds
retirement funds
commodities
Explanation: i just took it
Answer:
a. 136.93 units
b. $2,783.60
c. $2,783.63
d. 60 units
Explanation:
a. The computation of the economic order quantity is shown below:
= 136.93 units
b. The annual holding cost is
= Economic order quantity ÷ 2 × holding cost per order
= 136.93 units ÷ 2 × $40
= $2,738.60
c. The annual ordering cost is
= Annual demand ÷ economic order quantity × ordering cost per order
= $2,500 ÷ 136.93 units × $150
= $2,738.63
d. The reorder point is
= Demand × lead time + safety stock
where, Demand equal to
= Expected demand ÷ total number of days in a year
= 2,500 ÷ 250 days
= 10
So, the reorder point would be
= 10 × 6 + $0
= 60 units
We simply applied the above formulas
