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Lilit [14]
2 years ago
5

Possible misstatements that may occur during the cash receipts process result from cash receipts being received, but not recorde

d (which could facilitate embezzlement). A control technique that is used to mitigate the risk of such misstatements is to segregate the duties of the accounts receivable department, general ledger accounting records, and cash receipts. The employee who completed each duty is required to sign his/her initials, and evidence of this has been provided for you in the Accounts_Receivable file. In each transaction, proper segregation of duties is accomplished when no two duties have been completed by the same person. Use IDEA and the information from Roger Company Accounts_Receivable file to determine in which transactions segregation of duties was not properly implemented.
Business
1 answer:
marusya05 [52]2 years ago
8 0

Answer:

There should be strong internal controls implemented and segregation of duties in the finance department.

Explanation:

There is lack of internal controls present in the company which may lead to fraud or errors. The employees assigned to record the transaction are not recording all the cash receipts and are missing some of the cash receipts which can cause errors during reconciliation. The sub divisions of finance department must be segregated and there should be a supervisor who should be responsible to review all the work done by these departments.

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performance management requires knowing what activities and outputs are desired, observing whether they occur, and providing fee
mina [271]

The above statement is true.

  • An ongoing, continuous process of articulating and outlining work obligations, priorities, performance standards, and development plans that maximize performance and support organizational objectives.
  • The process of ensuring that a set of actions and outputs achieves the objectives of an organization effectively and efficiently is known as performance management. Performance management can be used to evaluate an employee, a department, a whole business, or the systems in place to handle certain tasks.
  • The performance management cycle is a smaller, continuous four-step process that uses planning, monitoring, reviewing, and rewarding as part of the performance management process or strategy.
  • Performance reviews, key performance indicators (KPIs), and management dashboards are a few examples of performance management procedures or instruments. Performance management is essentially what businesses undertake to increase their success and keep a step ahead of the competition.

Thus this is the meaning of performance management.

To learn more about performance management, refer: brainly.com/question/14506325

#SPJ4

5 0
1 year ago
If something happens to alter the quantity supplied at any given price, then.
morpeh [17]

Change in quantity supply will lead to a shift in supply curve.

<h3>What is change in supply?</h3>

Change in supply lead to a shift in the supply curve either to the left or right.

This occur in the price to quantity relationship which defines a supply curve.

This change often makes the supply curve becomes steeper and flatter.

Therefore, Change in quantity supply will lead to a shift in supply curve either to right or left.

Learn more on supply curve here,

brainly.com/question/1456933

3 0
2 years ago
If the Federal Reserve sells $50 billion of short-term U.S. Treasury Securities to the public, other things held constant, what
VLD [36.1K]

Answer:

b

Explanation:

5 0
3 years ago
On October 1, 2018, Swifty Company places a new asset into service. The cost of the asset is $125000 with an estimated 5-year li
Novosadov [1.4K]

Answer:

The book value of the plant asset on the December 31, 2018 is $75,000.

Explanation:

<u>Determine the depreciable cost,</u>

The depreciable cost = Acquisition cost - Salvage value.

The depreciable cost = 125,000 - 30,500.

The depreciable cost = $94,500.

<u>Determine the annual depreciation expense,</u>

The annual depreciation expense = depreciable cost/useful life

The annual depreciation expense = 94,000/5

The annual depreciation expense = $18,900.

<u>Find the % rate of depreciation .</u>

The % rate of depreciation = (18,900/94,500) × 100.

% rate of depreciation = 20%

Since it is the double-declining-balance method of depreciation we multiply the % rate by 2 =  20% × 2 = 40%

<u>Applying the rate to the carrying value of  the asset to obtain current year's depreciation expense.</u>

Current year's depreciation expense = Carrying value of  the asset × the depreciation rate %.

Current year's depreciation expense = 125,000 × 40%.

Current year's depreciation expense = $75,000

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4 0
3 years ago
Jason is working at Sushow Motors. The position, as originally described, involved conducting research with customers. Instead,
alexandr402 [8]

Answer: Withdrawal Cognition.

Explanation:

Jason is experiencing withdrawal cognition as he feels like quiting his current job because he is unhappy at the work place. Withdrawal cognition occurs when an employee of a company seeks to resign and leave a job because they don't derive satisfaction from that job. As in the case of Jason in the question, the job role he expected is much different from what he was assigned to carry out.

5 0
3 years ago
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