Your best response is ' MY TEAM INITIATED A UNIFIED, PROFESSIONAL RESPONSE FROM THE START'. This kind of response show professionalism, because you have not allow the question asked by the reporter to provoke you onto anger. Also, it show that you possess good communication skills.
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
False.
The business wants to upgrade the phone system, not rebuy the same one.
Answer:
C. Importing, exporting and countertrading
Explanation:
The e commerce partnership with Ali baba will enable them (Costco) buy (import) and sell (export) goods using the internet, and also transfer money and data to execute these transactions.
Importation involves buying of goods or services from other countries.
Exportation means selling of goods and services to other countries.
Countetrading means the exchange of goods and services which are paid in part or whole with other goods and services.
Answer:
b. The pairs in which neither individual is given extra juvenile hormone is the control
Explanation:
This is an experiment in which the researcher wants to establish a relation between the aggresion in wasp with the juvenile hormone, but to know which are really the effects you need something to compare with, that is called the control group, that is usually in the normal conditions, in this case it corresponds to the pairs in which they don't give the extra juvenile hormone, so the researcher can compare the difference between this pair with the pair in which one of the individuals has extra juvenile hormone.
