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vivado [14]
3 years ago
7

Accounting: explain the weakness in internal control and identify the internal control principle that violated?1. Each week, Kat

ja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.2. The store manager personally approves all payments before signing and issuing checks.3. The company checks are unnumbered.4. After payment, bills are "filed" in a paid invoice folder.5. The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.
Business
1 answer:
natita [175]3 years ago
7 0

Answer:

1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.

physical controls

2.The store manager personally approves all payments before signing and issuing checks.

segregation of duties

3.The company checks are unnumbered.

documentation procedures

4.After payment, bills are “filed” in a paid invoice folder.

documentation procedures

5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.

independent internal verification

Explanation:

1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.

physical controls

2.The store manager personally approves all payments before signing and issuing checks.

segregation of duties

3.The company checks are unnumbered.

documentation procedures

4.After payment, bills are “filed” in a paid invoice folder.

documentation procedures

5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.

independent internal verification

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$1,046.49.

The price of a coupon Bond that has periodic coupon payments of $ 75, a face value of  $ 1000, an interest rate of 5%, and a maturity of two times is $1,046.49.

Coupon Bond: A bond having tickets attached that reflect semiannual interest payments is known as a coupon bond, deliverer bond, or bond pasteboard. With coupon bonds, the issuer doesn't keep any records of the buyer, and no instrument has the buyer's name moreover.

The price of a coupon bond that has periodic coupon payments of $75, a face value of $1000, an interest rate of 5%, and a maturity of two times is $1,046.49.

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The managers of a car dealership have decided to utilize the Hawthorne effect to increase productivity, which means using camera
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Answer:

False

Explanation:

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3 years ago
Select the examples that best demonstrate likely tasks for Revenue and Taxation workers. Check all that apply.
ArbitrLikvidat [17]

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2 years ago
Rogers suggested that ideas are diffused through the market in systematic stages. During the ________ stage the customer decides
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During the <u>Decision to adopt stage</u>  the customer decides whether or not to try the product.

Explanation:

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$40,000

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Calcuation

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less: adjusted basis value                       ($260,000)

Gain recognized                                        $40,000

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