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cluponka [151]
3 years ago
9

Which of the following is a good internal control mechanism for cash disbursements? Multiple Choice Maximum purchase limits set

on debit and credit cards. Expenditures above a particular amount do not need authorization. All checks need to be signed only by one authorized person. All transactions are made using cash with the required documentation.
Business
1 answer:
Anuta_ua [19.1K]3 years ago
4 0

Answer:

The correct option is that maximum purchase limits set on debit and credit cards

Explanation:

It is clearly wrong to ignore authorization for expenditures above a particular threshold,because that encourages employees to perpetrate fraud.It would be more appropriate to say expenditures above a particular limit requires authorization.

When one person signs all checks, the implication of that is a company where the authorizer is allowed to use his wisdom to make cashflow decision that could adverse effect even on the survival of the business.

Documentation of all transactions is good but using cash at all times  exposes the business to the risk of cash conversion and theft

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Net credit sales for the year are $750,000. The end of year accounts receivable balance is $160,000. The allowance for doubtful
alexandr402 [8]

Answer: $3000

Explanation: Allowance for doubtful accounts is the contra account to accounts receiveable when all the bad debts need to be accounted for. The bad debts reduces the accounts receivable line but all bad debts are actually deducted from the allowance for doubtful accounts.

The allowance for doubtful accounts for that year is calculated as 5% of the accounts receivable balance. This amounts to $8000 (160000 x 5%) before bad debts have been accounted for. Allowance for doubtful accounts moves in the opposite direction as accounts receivable because it is a contra account to this line item. At the end of the year before year end closing entries are done, and after the bad debts have been accounted for, the balance on the allowance for doubtful accounts is $5000.

This means that bad debts for that year is:

8000 (balance before bad debts have been accounted for)

- 5000 (balance after bad debts have been accounted for)

= $3000.

5 0
3 years ago
Expectancy theory implies that linking an increased amount of rewards to performance will increase motivation and performance. F
TiliK225 [7]

Cognitive evaluation theory would question the use of money as a motivator because external motivational tools may lower intrinsic motivation because people will start working to get the reward, NOT because they are intrinsically motivated or challenged.

4 0
3 years ago
Before an evaluation of the project team can be effective and useful, a minimum core of conditions needs to be in place before t
matrenka [14]

Answer:

Option A Individuals have the skill set necessary to successfully complete the project

Explanation:

The evaluation method doesn't matters, the rewards doen't matters, the acknowledgment of responsibilities also don't matters if the team members are not capable to achieve the set objective. This is the most important part of the team formation and after that the resources availability is very important. So the right answer is Option A.

3 0
2 years ago
The degree to which a job is perceived to have a substantial impact on others inside or outside the organization is ________.
AURORKA [14]

The degree to which a job is perceived to have a substantial impact on others inside or outside the organization is Task Significance.

Task significance is defined as perception or believe that an individual's job implies a positive influence and well-being on other people. It states about the help provided to the work or other co-worker.

The impact created by this is characterized by support, help and optimizing the external work environment by an individual doing the job. It can be seen through giving opportunity to a particular employee to do the task.  

To learn more about Task Significance and other core job dimensions,

brainly.com/question/27328497

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6 0
1 year ago
All of the following are prohibited practices under FINRA rules EXCEPT: A selling enough mutual funds to a customer to obtain a
Licemer1 [7]

Answer:

Option A is correct

Explanation:

Breakpoint are the investment packages at which agents offer investors sales charge discount that is the more you invest, the greater the discount on sales charge which the investor is entitled to.

5 0
2 years ago
Read 2 more answers
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