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xeze [42]
2 years ago
5

Select the correct answer. Richard runs a small manufacturing business. Recently, he discovered that some of the financial trans

actions recorded in the account books seem misleading. He suspects that some of his employees might be misusing the business’s cash reserves. Which of these measures of internal accounting controls may Richard take to avoid such instances in the future?
A.  firing all the employees in the given department
B.  reducing the salaries of suspected employees
C.  sanctioning financial transactions in advance in the future
D.  organizing a conference to discuss such issues ​
Business
1 answer:
adoni [48]2 years ago
6 0

Answer:

C.  sanctioning financial transactions in advance in the future

Explanation:

Sanctioning a financial transaction means approving or authorizing a transaction to be executed. Requiring approval for financial transactions is one of the measures of internal control. Employees are required to seek approval from management or authorities before proceeding with transactions.

Richard should demand that he sanctions all transactions in advance. Through this measure, he will get details and explanations of financial transactions before they happen.

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the depreciation expense on the equipment will be 1,785 for tax purpose.

Explanation:

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now we multiply the basis by the coefficient and get the value for depreciation

50,000 x 3.57% = 1,785 depreciation expense under MACRS

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When launching a new venture, finding a way to begin doing business must ______________ generate cash flow, build credibility, a
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Undertaking initiatives that help an organization assume an enhanced citizenship role aligns with the human resource management
vesna_86 [32]

Answer:

complying with legal and social obligations

Explanation:

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What does research suggest about the relationship between goals and consciousness?
gayaneshka [121]

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