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guajiro [1.7K]
2 years ago
10

Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them decreases

the potential for errors and fraud. is a good example of safeguarding the company's assets. is an example of good internal control. increases the potential for errors and fraud.
Business
1 answer:
rusak2 [61]2 years ago
5 0

Answer:

Increases the potential for fraud and error

Explanation:

Internal controls refer to control mechanism implemented by management so as to ensure efficient operations and to detect and check material misstatements and frauds on timely basis.

Internal check refer to one of the means of implementing internal controls wherein duties and responsibilities are segregated in such a manner that no individual has the authority to process a transaction from it's beginning to it's end and whereby, work performed by an individual automatically comes into the scrutiny of another.

In the given case, the principle of internal check as a means to implement internal controls is violated since one person is assigned the responsibility to order, receive , pay for the goods.

This increases the possibility of a potential fraud and error since the individual possesses full authority to effect the transaction and may manipulate records since no other individual can watch on him.

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2 they were numerous - there were over 10,000 people in the Mongolian army
3 their military strategists were quite crafty - they relied on setting traps and tricking their enemies
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A client recently purchased a sizeable number of mutual fund shares and knows that the Net Asset Value will change daily. The cu
julsineya [31]

Answer:

(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.

Explanation:

The Net asset value(NAV) of any mutual fund corporation can be determined using below mentioned formula:

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Based on the above formula, the statement which best describe the computation  to arrive at NAV per share is

(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.

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3 years ago
LO 6.3Which is not a step in activity-based costing?
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Answer:

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What is Sancho’s purpose for writing ?What  is Sancho’s purpose for writing? Sancho’s purpose for  ?What is Sancho’s purpose for writing?

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