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
Natali5045456 [20]
3 years ago
5

Ron Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inv

entory items, and authorizing the payment for these items. Which internal control principle, if any, is being violated?
Business
1 answer:
ch4aika [34]3 years ago
5 0

Answer:

Segregation of duties.

Explanation:

Segregation of duties -

The concept of segregation of duties is based on the shared responsibilities .

It refers to the method of assigning different person for different task , is referred to as segregation of duties .

It is the fundamental building block for running a business efficiently , in order to reduce any management risk .

In the business it is the major case of any fraud or error , as one person is responsible for maximum duties functioning in the business .

Therefore , it is import to divide various duties .

Hence , from the given scenario of the question,

The correct answer is segregation of duties .

You might be interested in
The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Titl
postnew [5]

Answer:

Service Revenue           881,105

Wages Expense           (529,000)

Supplies Expense          (42,000)

Rent Expense                 (59,500)

Utilities Expense               (8,000)

Depreciation Expense  (150,000)

Interest Income            <u>     (5,500)   </u>

Net Income                        87,105

Explanation:

We list the revenue account and then, substract the expenses leaving the net income. As this is a single-step income statemnt we do not solve for operating and non-operating income.

7 0
3 years ago
What is a commodity?
BabaBlast [244]

The correct answer is D. Something of value that can be bought, sold, or traded

Explanation:

The word "commodity" is used in economics to refer to any good or product that has an economic value and due to this, can be part of the market. This means any commodity can be traded, sold, or bought. Moreover, this concept is mainly applied to raw materials such as coal, timber, or wheat that can be used to make other manufactured products such as plastics, furniture, or flour. According to this, the option that correctly describes the word commodity is option D.

3 0
3 years ago
In 2019, Alliant Corporation acquired Centerpoint Inc. for $548 million, of which $98 million was allocated to goodwill. At the
ohaa [14]

Answer:

$48 million

Explanation:

In this scenario, we compare the values between book value including goodwill and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Book value including goodwill - fair value  

= $450 million - $402 million

= $48 million

All other information which is given is not relevant. Hence, ignored it

6 0
3 years ago
Atlanta Cement, Inc. buys on terms of 2/15, net 30. It does not take discounts, and it typically pays 65 days after the invoice
shusha [124]

Answer:

The nominal annual percentage cost of its non-free trade credit, based on a 365-day year is 0.2795%

Explanation:

The computation of the nominal annual percentage is shown below:

= Discount rate ÷ (100 - discount rate) × ({Total number of days ÷ payable days} - discount days)

= 2% ÷ ( 100 - 2%) × (365 days ÷ 65 days - 15 days)

= 2% ÷ (98% × 7.3)

= 2% ÷ 7.154

= 0.2795%

The net purchase amount is irrelevant. hence, this part is ignored

5 0
3 years ago
Which of the command systems would be the most appropriate when there are six victims at a mvc?
Olin [163]

Singular command. In a motor vehicle accident with multiple victims, the scene will be chaotic and having a single, clear leader will best help resolve the situation.

5 0
3 years ago
Other questions:
  • Acme Inc. and Beamer Company exchanged like-kind production assets. Acme’s asset had a $240,000 FMV and $117,300 adjusted tax ba
    8·1 answer
  • Maria Gomez owns and manages a consulting firm called Accel, which began operations on December 1. She asks us to assist her wit
    8·1 answer
  • Setting a price on perishable items does not include calculating?
    13·2 answers
  • Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $ 29,000 $ 31,
    12·1 answer
  • How would you describe Ghosn’s style of leadership?
    11·1 answer
  • Which of the following statements is true of globalization?
    9·1 answer
  • Insurance companies facilitate the transfer of risk from Multiple Choice those who have a low-risk tolerance to those with high
    15·1 answer
  • Suppose we have the following information concerning the printed magazine and digital magazine subscription markets:
    10·1 answer
  • A company had net income of $2,660,000, net sales of $25,000,000, and average total assets of $8,000,000. Its return on total as
    10·1 answer
  • with interest rates rising, why do you believe purchasing a home can be one of the most stressful experiences for people? explai
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!