1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnom [1K]
3 years ago
12

Richard Palm is the accounting clerk of Olive Limited. He uses the source documents such as purchase orders, sales invoices and

suppliers’ invoices to prepare journal vouchers for general ledger entries. Each day he posts the journal vouchers to the general ledger and the related subsidiary ledgers. At the end of each month, he reconciles the subsidiary accounts to their control accounts in the general ledger to ensure they balance.
Discuss the internal control weaknesses and risks associated with the above process. (maximum 300 words)
Computers and Technology
1 answer:
sdas [7]3 years ago
5 0

Answer:

Lack of segregation of duties

Explanation:

Internal Controls are set of rules and guidelines that are followed to ensure effectiveness of business operations. The main risk in the business is weak internal controls. There are some organizations with strong internal controls but implementation of such controls is a challenge for organizations. There are human errors, IT security risks, fraud and compliance risk.

The risks associated with Olive limited is that there is no segregation of duties, Richard Palm is preparing journal vouchers, posts the journal vouchers and reconciles the balance himself. If he makes an error in recording a transaction there is no one who reviews his work and can identify an error. Also if Richard is involved in a fraud and collaborates with purchase department or sales department staff, he can pass a transaction without any supervision.

You might be interested in
This program outputs a downwards facing arrow composed of a rectangle and a right triangle. The arrow dimensions are defined by
andreyandreev [35.5K]

Answer:

Follows are the modified code to this question:

#include <stdio.h>//defining a herader file

int main(void) //defining a main method

{

  int arrowBaseHeight = 0,arrowBaseWidth = 0,arrowHeadWidth = 0 ;//defining integer variable

  int i, j; //defining integer variable

  printf("Enter arrow base height:");//print message  

  scanf("%d", &arrowBaseHeight);//input value in arrowBaseHeight variable

  printf("Enter arrow base width:");//print message

  scanf("%d", &arrowBaseWidth);//input value  in arrowBaseWidth variable

  while (arrowHeadWidth <= arrowBaseWidth)//defining while loop to check arrowHeadWidth less then equal to arrowBaseWidth  

  {

      printf("Enter arrow head width:");//print message

      scanf("%d", &arrowHeadWidth);//input value in arrowHeadWidth variable

      printf("\n");//use for line spacing

  }

  // defining for loop for print vertical line of asterisk

  for (i = 0; i < arrowBaseHeight; i++)//defining for loop for print row  

  {

      for (j = 0; j < arrowBaseWidth; j++) //defining for loop for print column

      {

          printf("*");//print asterisk value

      }

      printf("\n");//use for line spacing

  }

//defining for loop for print reverse triangle

  for (i = arrowHeadWidth; i > 0; i--) //defining loop for input length  

  {

      for (j = i; j > 0; j--) //defining loop for triangle  

      {

          printf("*"); //print asterisk value

      }

      printf("\n");//use for line spacing

  }

  return 0;

}

Output:

please find attach file.

Explanation:

In the code, inside the method five integer variable "arrowBaseHeight, arrowBaseWidth, arrowHeadWidth, i, and j" is defined, in which the first three variables are used for input value from the user end, and "i and j" are used in the loop.

In the next step while loop is used for input the value, but in this code, mainly two for loop is used which can be defined as follows:

  • In the first loop, it is used the "arrowBaseHeight and arrowBaseWidth" variable to print the vertical line of the asterisk.
  • In the second loop, it uses the "arrowHeadWidth" variable to print the reverse triangle.

6 0
3 years ago
)
I am Lyosha [343]

Photo metadata

Hope this helps

5 0
3 years ago
You use the _____ sheet in the format cells dialog box to position data in a cell by centering it, for example.​
Oliga [24]
You use the Alignment sheet in the format cells dialog box to position data in a cell by centering it, for example. Generally along the middle branch is a line or centerline of the definite pipeline on a scale of whatever is indicated.
3 0
2 years ago
There are several reasons it’s important to use the right tool and the right size tool for the job, but the most important reaso
Helga [31]

Answer:

ok t dog

Explanation:

4 0
3 years ago
A disadvantage of ethernet??
Blababa [14]
Ethernet is a wired internet connection. So, one obvious draw back is you can only go so far as your Ethernet cable will allow you.
3 0
3 years ago
Other questions:
  • Jack wants to store a large amount of data on his computer. He chooses to use a database for this purpose. What is a database? A
    8·1 answer
  • We never need to use a forward declaration when invoking a public subprogram. true or false?
    15·1 answer
  • We already know that we can create a lunar lander application of the pipe-and-filter architecture style from three independent J
    6·1 answer
  • Write a Unix (Linux) find-like command (myFind) in Python3 where the function will return the full paths of all the files contai
    9·1 answer
  • 3. When you right-click a linked spreadsheet object, what commands do you choose to activate the Excel features?
    7·2 answers
  • How many strings with five or more characters can be formed from the letters in seeress?
    15·1 answer
  • Convertbinary(111100)to decimal​​​​
    13·2 answers
  • ________(fill in the blank)in online education is intrinsically related to equity.
    13·1 answer
  • ANSWER QUICKLY!!! <br><br> Which aspect of planning is a preventive action?
    15·1 answer
  • a benefit of cloud computing is scaling up or down as demand for your services increases or decreases. the word that is most ass
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!