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aksik [14]
3 years ago
11

Which of the following actions is least likely to help prevent and detect schemes involving fraudulent invoices from non-accompl

ice vendors? a. Marking "paid" on every voucher that has been paid b. Verifying vendor address changes before disbursements are issued c. Matching all bank statement items to canceled checks d. Separating the duties of purchasing, authorizing, and distributing payments
Business
2 answers:
Valentin [98]3 years ago
7 0

Answer: C. Matching all bank statement items to canceled checks.

Explanation: To help prevent and detect schemes involving fraudulent invoice and non accomplice vendors, matching all bank statement items to canceled checks is the right option to go with.

This action have proved to be effective and to at least prevent fraudulent invoice by vendors.

Vladimir [108]3 years ago
5 0

Answer:

C

Explanation:

Billing scheme is an act of using false documentation to effect fraudulent payment for transaction that did not exist. One common way of doing this is through the creation of fictitious companies.

The options listed in the question are effective in mitigating this except matching all bank statements to canceled check.

This scheme deals more with false procurement and payment of the invoices , therefore it has nothing doing with canceled check and bank statements.

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A future-focused question
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3 years ago
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For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so,
kompoz [17]

Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.

Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.

For customer B, Although agreement has been reached and goods delivered, since payment hasn't been received, revenue is not recognised.

6 0
3 years ago
Rex's doughnuts can produce only 100 doughnuts a day. the variable cost incurred per unit is $2 and fixed costs incurred per day
vladimir1956 [14]
The total cost that is incurred by producing 100 doughnuts is equal to the sum of the variable cost and the fixed cost. The total variable cost is,
    total variable cost = ($2/doughnut)(100 doughnuts) = $200

The total cost is,
   Total cost = total variable cost + total fixed cost
     TC = $200 + $500 = $700

Equating the cost and the revenue,
     TC = TR
     $700 = (100)(x)

The value of x from the equation is $7.

ANSWER: $7. 
3 0
3 years ago
Acme Home Lending offers home equity loans up to 80% of the home value for its customers. If Sally Johnson has a home valued at
Ivenika [448]

Answer:

c) $110,000

Explanation:

The computation of the borrowing amount is shown below:

= Value of home × given percentage - current mortgage amount

= $200,000 × 80% - $50,000

= $160,000 - $50,000

= $110,000

For computing the accurate value, we have to deduct the current mortgage amount from the net value of home.

Since only 80% is related to the home value so we take only 80% and rest 20% would be ignored.

7 0
3 years ago
What must a landlord or homeowner post that informs workers that the homeowner is not responsible for the work being performed?
Phantasy [73]

Answer:

A notice of cessation

Explanation:

A notice of cessation is a written notice that is issued by the contractee or the owner of a project (or his or her agent) to inform concerned parties that no work has been performed at the project site for a certain period. This notice also sets the time frame within which the affected parties may carry out their lien rights against one another

5 0
3 years ago
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