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alexira [117]
3 years ago
5

In the financial services sector, some organizations have implemented a three-lines-of defense model. What does the use of this

model suggest about an organization’s structure?
Business
1 answer:
Dovator [93]3 years ago
4 0

Answer:

The correct answer is: This organization uses a layered approach that creates a separation of duties.

Explanation:

The Three Lines of Defense model is an approach used to divide the duties of the financial department of an organization aiming to improve risk management and control. The first line of defense involves management and control measures. The second line includes financial control, security, quality, inspection, and compliance. The first and second lines of defense are in charge of <em>senior managers</em> of the entity.

The third line of defense involves the internal audits of the company and is in charge of the <em>Board of Directors</em> (BoD).

You might be interested in
Job satisfaction questionnaires should always be anonymous to get employees to tell the truth.A. TrueB. False
xenn [34]

Answer:

B. False

Explanation:

I would say that most of the time (the vast majority actually) questionnaires should be anonymous. Imagine if you had to answer a questionnaire about your teacher, and he/she is a really bad teacher. If the questionnaire had your name on it, you would probably be much nicer than if the questionnaire was anonymous (due to the fear of retaliation by the teacher). The same thing happens on any workplace, no one will tell how bad his/her boss is if their name will appear on the questionnaire. Employees will always fear retaliation from their supervisor or manager, so they will not be completely honest.

But on some companies, employees might not fear any type of retaliation, specially on very horizontal organizations (flat structures with few management levels). The advantage of non-anonymous questionnaires is that they can be used to actually solve problems and follow up how the problems were solved or how do employees feel after they were solved.

The problem is that non-anonymous questionnaires work for companies that probably do not need them very much in the first place, while on companies that really need them, they are anonymous.

6 0
3 years ago
A software company is weighing whether to release a new version of its software. The company can go ahead and release the versio
Softa [21]

The given scenario is an example of vaporware.

<h3>What is Vaporware?</h3>

This refers to the advertisement of software that is not yet available for purchase.

Hence, we can see that based on the decisions taken by the software company to release their product or to release the first version before releasing the others is an example of vaporware.

Read more about vaporware here:

brainly.com/question/13078205

#SPJ1

5 0
2 years ago
Culver Company has an old factory machine that cost $64,500. The machine has accumulated depreciation of $36,120. Culver has dec
enot [183]

Answer: The machine cost 64,500 and has accumulated depreciation of 36,120 so the book value of the machine is (64,500-36,120)=28380

The book value of the machine is 28380 so if the machine is sold for 32,250 then the gain on sale is (32,250-28380)= 3,870

                                                Debit                             Credit

Cash                                          32,250

Machine                                                                         28,380

Gain on sale                                                                    3,870

If the machine is sold for 19,350 then there will be a loss on the sale of the machine and the loss will be debited. (28380-19350)=9,030

                                                Debit                             Credit

Cash                                         19,350

Loss on sale                               9,030

Machine                                                                          28,380

Explanation:

4 0
4 years ago
Answer the following questions about prepaid​ expenses:
pochemuha

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

6 0
4 years ago
_____ is the process of determining which persons in the applicant pool possess the qualifications necessary to be successful on
ANEK [815]

Answer:

The correct answer is the option E: Selection.

Explanation:

To begin with, in the Human Resources area the process known as <em>selection </em>is the one that focuses in the fact of determining which applicants are the ones that would best fit with the qualifications that are needed for the job and that the company is looking for. Therefore that in this process is where the person who does the interview needs to know exactly what the manager wants when it comes to a new employee so that the person can evaluate all the applicants by those standards in mind and more.

4 0
3 years ago
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