Answer: The correct answer is "A. research and development".
Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.
Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.
Only in particular cases do companies engage in research and development, but it is not something basic.
The rationale for internal control principle, segregation of duties is that the work of one employee should, without duplication of effort, provide a reliable basis for evaluating the work of another employee. Segregation of Duties is a basic building block of sustainable risk management and internal controls for business. It is based on shared responsibilities of a key process that disperses the critical functions of that process to more than one person or department.
Answer:
D. all of the above
Explanation:
a. The preparer must make the copy or record of returns and claims for refund and record of the individuals required to sign available for inspection upon request by the commissioner.
b. The preparer must retain a completed copy of each return or claim for refund prepared or retain a record by list, card file, or otherwise, of information, as required by regulation, about each return prepared.
c. The preparer must retain information about the preparer of each return presented to a taxpayer for signature. This information may be retained via retention of a copy of the return or claim for refund, maintenance of a list or card file, or otherwise.
Answer:
Option A. Establishing a code of ethics
Option B. Providing support for whistleblowers
Option D. Referring ethical dilemmas to an ethics committee
Explanation:
Professor Quinn had chosen all of the options except providing ethics tainings for the employees because every employee have minimum ethics knowledge.
Having code of ethics builds a sense of better dealings in a work environment. It also triggers a sense of ethical values that an oganization wants to promote among its employees.
Providing support for whistleblowers help in identifying potential threats and risks associated with human resource and company assets. It also help in enfocing ethical values which can't be compromised.
Referring ethical dilemmas to the Ethics Committee will enable resolving of conflicts within an organization on a timely basis.
