1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
katovenus [111]
4 years ago
13

Which of the following internal control procedures is not usually performed in the treasurer’s department? A. Verifying the accu

racy of checks and vouchers. B. Controlling the mailing of checks to vendors. C. Approving vendors’ invoices for payment. D. Canceling payment vouchers when paid
Business
1 answer:
makkiz [27]4 years ago
8 0

Answer:

The answer is: C) Approving vendors’ invoices for payment.

Explanation:

Within an organization, the duties of authorizing payments, record keeping and asset custody have to be assigned to separate business units or departments. One single department shouldn't authorize payments and make them. There would be no possible control over what they are doing.

For example, if the treasury department is able to authorize payments, instead of paying $1,000 for an invoice they could pay $50,000 and no one would be able to discover the fraud committed.

You might be interested in
Which of the following is an advantage of multiple-choice achievement tests over holistic performance-based assessments? Group o
garri49 [273]

Answer:C. Multiple- choice achievement test are criterion -referenced

Explanation:

They can be used to measure different qualitative and quantitative resources of the sample been observed.

3 0
3 years ago
Which of the following statements about income taxes is not correct?
Anastaziya [24]

The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct

<h3>What is income tax?</h3>

A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.

The complete part of the question is below:

A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.

B)Income taxes are based on taxable income and not accounting income.

C)Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future.

D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.

Hence option C is correct.

Learn more about income tax:

brainly.com/question/17075354

#SPJ1

7 0
2 years ago
if china’s economy maintains a 7% annual growth rate over the next 20 years, about how large will its economy be in 20 years if
grin007 [14]

Answer:

If an economy grows at 7% per year, it will take 70 / 7 = 10 years for the size of that economy to double, and so on.

3 0
3 years ago
You are doing a sales presentation for Ms. Duarte and her son. Ms. Duarte has some cognitive impairment and her son informs you
Jet001 [13]

Answer:

Yes he can execute the enrollment for her

Explanation:

The power of attorney is a legal document that given the authority to act in place on another person. It can be represented on behalf of other people so that the act could be done.

Here the individual can act legal with respect to the financial issue, property matters, etc

Therefore according to the given situation yes he can be executed

4 0
3 years ago
Under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test als
IgorC [24]

Answer:

TRUE

Explanation:

It is true that under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy

Under Sec. 461(h), a three-prongall-events test is met when

(1) all events have occurred that establish the fact of the liability;

(2) <u>the amount of the liability can be determined with reasonable accuracy</u>; and

(3) economic performance has occurred.

8 0
3 years ago
Read 2 more answers
Other questions:
  • On January 1, 2018, Brian Company purchased at par $831,000, 6 percent bonds issued by Laura Company to be held as available-for
    7·1 answer
  • Which of the following is a severe and long-lasting economic downturn that is worse and deeper than a recession?
    10·1 answer
  • You are considering investing in a GM bond with 7 years to maturity. The face value of the bond is $1,000. The coupon rate is 6%
    5·1 answer
  • According to the U.S. Census Bureau’s Current Population Survey, the mean and median 2014 income of people aged 25 – 34 years wh
    8·1 answer
  • Let's assume that your favorite musician (who sells platinum records and has sold-out concerts) is a great cook. He also makes s
    9·1 answer
  • Consider a 11-period binomial model with R=1.02R=1.02, S_0 = 100S 0 ​ =100, u=1/d= 1.05u=1/d=1.05. Compute the value of a Europe
    15·1 answer
  • Economists group commercial​ banks, savings and loan​ associations, credit​ unions, mutual​ funds, mutual savings​ banks, insura
    12·1 answer
  • Suppose that you are a U.S. producer of a commodity good competing with foreign producers. Your inputs of production are priced
    11·1 answer
  • HURRRRRY in the space provided, analyze the pris and cons of being a freelance multimedia artist. Gugr an example of work in whi
    15·1 answer
  • What are you paying for when you lease a car? A.the purchase price of the car
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!