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True [87]
3 years ago
6

An auditor noted that the accounts receivable department is separate from other accounting activities. Credit is approved by a s

eparate credit department. Control accounts and subsidiary ledgers are balanced monthly. Similarly, accounts are aged monthly. The accounts receivable manager writes off delinquent accounts after 1 year, or sooner if a bankruptcy or other unusual circumstances are involved. Credit memoranda are prenumbered and must correlate with receiving reports. Which of the following areas could be viewed as an internal control deficiency of the above organization?
A. Write-offs of delinquent accounts.
B. Credit approvals.
C. Monthly aging of receivables.
D. Handling of credit memos.
Business
1 answer:
Rus_ich [418]3 years ago
4 0

Answer: Option (A) is correct

Write-off  refers to accounting term that curtails the amount of an asset while synchronously soliciting liabilities. It is principally utilized in its literal term by organizations seeking to rationalize unpaid loan obligations,receivables, or losses.  Delinquent account refers to a credit account, where a individual has be found lacking  to make at least the minimum monthly payment.

<em>Therefore, Write-offs of delinquent accounts could be viewed as the internal control deficiency of the given organization.</em>

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Roberto consumes coke exclusively. he claims that there is a clear taste difference and that competing brands of cola leave an u
VikaD [51]
The answer to the question above is "brand names cause consumers to be more sensitive to product differences" based on the result of Roberto's taste test. In the blind test, Roberto did not feel the unsavory flavor from the generic store-coke and he prefers that generic store-coke. This test proves that Roberto's taste is distracted by the brand.
5 0
3 years ago
10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round y
Katyanochek1 [597]

Answer:

Income elasticity = 2

Normal good

Explanation:

Below is the given values:

Percentage decrease in consumers income = 10%

Percentage decrease in quantity demanded = 20%

Use the below formula to find the income elasticity:

Income elasticity = % change in quantity demanded / % in income

Income elasticity = -20/-10

Income elasticity = 2

Since the elasticity is 2 that means good is normal good.

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3 years ago
a segment should probably be dropped when the segment blank . multiple select question. has a positive segment margin but cannot
andrew11 [14]

A segment should probably be dropped when the segment has important side effects on other segments cannot cover its own costs. The correct option is B.

<h3>What is a segment margin?</h3>

The profit or loss generated by one component of a business is referred to as segment margin.

Segment margin only considers the segment's revenue and expenses.

By analyzing a company's strengths and weaknesses, segment margin can provide an accurate picture of where it is performing well and where it is not.

If a segment cannot cover its own costs, it should be dropped unless it has significant side effects on other segments.

Thus, the correct option is B.

For more details regarding segment margin, visit:

brainly.com/question/15357689

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5 0
2 years ago
Which of the following accurately describes
Setler [38]

Answer:

What accurately describes Shareholder's Equity is all of the above, because it's all just simplified/different terms for investment in one another company's business :3

Explanation:

:3

6 0
2 years ago
Scenario Creekside Robotics Corp. provides free lunch to its employees every day. The work environment is informal and friendly,
Ierofanga [76]

The social need is provided when Creekside Corp seeks to satisfy its staff by providing a friendly work environment where everybody gets to know each other.

<h3>What is a social needs?</h3>

This is a need that include friendship, affection, belonging, love etc.

In a workplace, when the physiological and safety needs are well satisfied, then, the employees will be motivated to work effectively.

Therefore, the social need is provided when Creekside Corp seeks to satisfy its staff by providing a friendly work environment

Therefore, the Option C is correct.

Read more about social needs

<em>brainly.com/question/1172032</em>

8 0
2 years ago
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