In a retail cash sales environment, which of the following controls is often absent?

Business

1 answer:

JulijaS [17]3 years ago

6 0

Answer:

The correct answer to the following question is option b) Separation of functions.

Explanation:

In a retail environment , the cash management process starts when a customer pays the cashier for the product or services he or she has purchased. The cashier then counts the cash in till drawer and then at end of the day cashier takes that cash to the third party who can be either manager or owner or a supervisor. Then cashier would receive a receipt against the cash for till drawer.

Now supervisor would collect cash from all the cashier and prepare the cash to be deposited in bank. So from this process it is quite clear that here there is separation of functions here and while all other options given in the question are present in the process.

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A revenue variance is the difference between what the total sales revenue should be, given the actual level of activity of the p

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Answer: True

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The revenue variance is the difference between what the total sales revenue should be, given the actual level of activity of the period, and the actual total sales revenue.

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A competitive firm maximizes profit by choosing the quantity at which.

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A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is a:

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A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is known as a:

<u>Cartel</u>

According to the given question, we are asked to show the term which can be best used to <em>describe </em>a group of sellers who make an agreement to <em>reduce their collective output</em> so that price of goods would increase above their marginal costs.

As a result of this, we can see that this group of people in the business world are known as cartel because they behave unethically so that they could have increased profit on sales.