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KiRa [710]
2 years ago
9

Which statement best explains how manufacturers contributed to the economic slow down that lead to the Great Depression

Business
1 answer:
Alex_Xolod [135]2 years ago
7 0
They were overproducing goods
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Identify the internal control weakness in the following situations. State how the person can hurt the company.
Degger [83]

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.

4 0
3 years ago
Which of the following statements regarding SPT and WSPT is INCORRECT?
Alex Ar [27]

Answer:

D

Explanation:

WSPT assigns the highest priority to the job with the LOWEST weight/processing time ratio.

4 0
3 years ago
Klumpro, a supplier of organic milk products, sells its products to Sweedinth, a dessert store and Klumpro's long-term customer,
Alexxandr [17]

Answer:

Business relations

Explanation:

Business relations are the connections that exist between all entities that engage in commerce. That includes the relationships between various stakeholders in any business network, such as those between employers and employees, employers and business partners, and all of the companies a business associates with.

8 0
3 years ago
Whitley recently started her own tutoring firm for high school students. To help finance her new business, which had a very limi
tamaranim1 [39]

Answer: Junk bonds

Explanation:

Junk bonds are a high-yielding high-risk security, that are issued by a company which is seeking to raise capital quickly to finance a takeover.

Junk bonds represent bonds that are issued by companies that are financially struggling and possess a high risk of not paying the interest or repaying the principal to investors. Junk bonds are a good investment for the investors who need the higher return and those that can also afford the higher risk.

8 0
2 years ago
Read 2 more answers
Write down the observations in a dataset that consisting of the GPAs and credits taken in the current quarter for randomly selec
lozanna [386]

Answer:

EWU students

GPA

January: 3.5

February: 2.6

March: 3.6

April : 3.1

May: 3.7

June:2.8

July: 2.9

August: 2.1

September: 2.8

October: 3.1

November: 2.2

December: 2.5

Explanation:

The GPA for EWU students shows declining pattern over the past 12 months. The students have been focused on their fall internship program and the studies are neglected. The GPA of students is declining and the minimum GPA is 2.1 which has been secured in the month of August.

3 0
2 years ago
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