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Lady bird [3.3K]
3 years ago
11

Tyler Jones is authorized to prepare and sign checks for the company. He also enters the checks Into the ledger. He wrote a $500

.00 check to Jones Repair, a fictitious company and entered the
check Into the ledger as a repair expense. He deposited the check into his own account. Which of the following internal controls would have prevented the theft?
A. All checks require two signatures.
B. All checks require a voucher or Invoice.
C. All payments and purchases are made by check.
D. The bank reconciliation is completed monthly.
Business
1 answer:
Natali [406]3 years ago
3 0

Answer:

A. All checks require two signatures.

Explanation:

Internal controls refer to the checks and balances that an organization puts into place to ensure its financial transactions' integrity. They are the measures and regulations that safeguard against fraudulent transactions, especially in the finance department. Internal control protects business assets from theft and misuse by malicious employees.

Requiring all transactions to be approved by a senior officer is a control measure that would have prevented Tyler Jones from succeeding in stealing. In this case, the check would have to be signed by a second person. The second signature serves as an approval.

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Today you put $1000 in the bank. your bank pays 5% interest, continuously compounded. in 3 years, how much money will you have i
IRINA_888 [86]

With continuous interest,
F=Pe^{rt}
where 
F=future value
P=principal = 1000
r=rate=5%
t=time=3 years

F=Pe^{rt}
=1000e^{0.05*3}
=1000e^{0.15}
=1161.83

Answer: The accumulated amount after three years is $1161.83
4 0
3 years ago
Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts. tom can pick 2 pounds of coffee in an hour or gather 4
Kryger [21]

Answer: Total earning is $96 for both Susan and Tom

Explanation:

Susan can pick 4 pounds of coffee or 2 pounds of nuts.

Tom can pick 2 pounds of coffee or 4 pounds of nuts.

Price of Coffee = $2 per pound

Price of Nuts = $2 per pound

Opportunity cost of producing coffee for Susan = 2/4 = 0.5

Opportunity cost of producing coffee for Tom = 4/2 = 2

Opportunity cost of coffee is low for Susan, so she has a comparative advantage in it.

So, Susan produces 6*4 = 24 pounds of coffee, total revenue from sale of coffee is $24*2 = $48

Opportunity cost of producing Nuts for Susan = 4/2 = 2

Opportunity cost of producing Nuts for Tom = 2/4 = 0.5

Opportunity cost of coffee is low for Tom, so he has a comparative advantage in it.

So, Tom produces 6*4 = 24 pounds of nuts, total revenue from sale of nuts is $24*2 = $48

So, total earning = $48+$48 = $96

5 0
3 years ago
The United Kingdom currently has a trade deficit with New Zealand. If the U.K. pound sterling appreciates relative to the New Ze
monitta

The correct answer to the given question is that the trade deficit would increase since with the appreciating pound means <em>more goods will be imported</em> from New Zealand.

Based on the given question, we are asked to show the effects of the trade deficit between New Zealand and UK based on the appreciation of the pound sterling relative to the New Zealand dollar.

With this in mind, we are aware that when there is a strong domestic currency, then it would encourage more imports and hamper exports, therefore, the trade deficit will increase, since an appreciating pound means more goods will be imported from New Zealand.

Therefore, the correct answer is option D

Read more about trade deficit here:

brainly.com/question/24473707

4 0
2 years ago
Classified ads in newspapers
ZanzabumX [31]

A.are a good source of referrals.

5 0
3 years ago
The following are exogenous (not directly affected by income): G = 11 I = 4 X = M = 0 The consumption function is: C = k + cY, w
nikitadnepr [17]

Answer: the answer is 90.0

Explanation:

From the question above, we are given:

G = 11

I = 4

X = M = 0

Consumption function is:

C = k + cY

Where:

k = 3

c = 0.8

The GDP of a nation is given as:

Y = C + I + G + NX

By imputing the values into the GDP equation, we have:

Y = k + cY + 4 + 11 + 0

Y = 3 + 0.8Y +15

Y - 0.8Y = 18

0.2Y = 18

Y = 90.0

6 0
3 years ago
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