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lora16 [44]
3 years ago
9

Segregation of duties controls dictates that the collection and recording functions be kept separate from each other. However, t

he accounts receivable department needs to know when customers pay their invoices. What is a solution to this potential internal control problem?A) Establish a lockbox arrangement with a bank.B) Have customers send a remittance advice with their payment.C) Have mailroom personnel prepare a remittance list which can be forwarded to accounts receivable.D) all of the above
Business
1 answer:
nekit [7.7K]3 years ago
5 0

Answer:

Option D All of the above statements are correct.

Explanation:

The solution of the issue is software integration and making flow of information on timely basis across the company. The recommended solutions given in the question are correct because:

  1. Establishing a lockbox arrangement is similar to having a single company bank account. This means that the company will have a confirmation from the bank that the payment is received by the bank from customers.
  2. The remittance advice sent with payment helps to solve the misunderstanding, assist in recording transaction to keep the system updated and provides resistance to fraudulent practice.
  3. The mailroom personnel who require mailing of trade receivable balance which the customers owe to company and trade payable balance which the company owes to suppliers. This avoids the company paying illegitimate amounts and receiving the amounts which the customers actually should pay to the company.

So all of the statements are correct.

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What do you know about the company/organization you wish to work for?
Masja [62]

Explanation:

Financial health of the company.

Company's brand value.

Work culture and environment.

wages and salary ofc

4 0
2 years ago
At Bapostsyl, a telecommunications company, marketing managers are hired after testing their strategic thinking capabilities thr
user100 [1]

Answer:

B) assessment centers

Explanation:

Since in the question it is mentioned that the company could hired marketing managers after testing their strategic thinking  by providing the job description i.e any task designed to provide you with an realistic summary of the day-to-day tasks you are interviewing.

So according to the given situation, the company uses the assessment centers so that they could analyze the individual performance at the time of interview

4 0
3 years ago
Listmann Corp. processes four different products that can either be sold as is or processed further. Listed below are sales and
Sloan [31]

Answer:

The product Deluxe sgould not be processed further.

Explanation:

Giving the following information:

Sales - Value without Processing - Additional Costs - Sales Value after processing

Premier: $1,350 - $900 - $2,700

Deluxe: 450 - 225 - 630

Super: 900 - 450 - 1,800

Basic: 90 - 45 - 180

We need to calculate the contribution margin of each product before and after processing.

<u>Premier:</u>

Before= 1,350

After= 2,700 - 900= $1,800

It is more profitable to continue processing.

<u>Deluxe:</u>

Before= 450

After= 630 - 225= $405

It is more profitable to sell before processing.

<u>Super:</u>

Before= 900

After= 1,800 - 450= $1,350

It is more profitable to continue processing.

<u>Basic:</u>

Before= 90

After= 180 - 45= 135

It is more profitable to continue processing.

5 0
3 years ago
1. In an year, the real GDP of an economy a. Always equal to potential GDP b. Must always be less than potential GDP c. Will alw
fomenos

Answer:

d. Maybe greater or less than potential GDP

Explanation:

Real GDP stands for real gross domestic product. It is defined as the measurement of the inflation-adjusted which reflects the quantity of all the goods and the services that is produced in a yean by an economy.

A potential GDP is defined as the level of the output that an economy that can produce at the constant inflation rate.

In a given year the real GDP can be greater than the potential GDP or the can be less than the potential GDP of an economy.

Hence the correct option is (d).

3 0
3 years ago
Financial instruments (25) A) are created to transfer risks that are difficult to predict. B) are created to transfer risks that
DanielleElmas [232]

it should be noted that financial instruments are created to transfer risks that are difficult to predict.

<h3>What are financial instruments?</h3>

financial instruments can be regarded as contract that exist between individuals/parties which is accessing monetary value.

With these financial instrument , transfer risks in the financial domains can be predicted.

Examples of financial instrument are:

  • cheques
  • shares
  • stocks, bonds

Learn more about financial instrument at;

brainly.com/question/1096688

3 0
2 years ago
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