1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Crazy boy [7]
3 years ago
11

Q2. The office manager of ABC company has the authority to the whole financial operations. He authorizes activities, controls th

e company’s expenses, records the company’s transactions, and rarely takes vacation.
The owners of the company are happy with his work since the company is making a profit. You are giving the opportunity to educate the owners about the risk of not implementing internal control. What would be your advice?
Business
1 answer:
aivan3 [116]3 years ago
7 0

<em>My </em><em>advice</em><em> to the owners of ABC Company </em>concerning internal controls affecting the office manager would be as follows:

It is time to promote the office manager. His promotion would relieve him of the responsibilities he handles presently. Promoting him would also enable management to segregate his duties.

Secondly, after implementing the promotion and segregation of duties, management should implement a <em>compulsory annual </em><em>leave policy</em>. Having a company-wide leave policy bolsters internal controls by preventing and discovering suspicious fraudulent activities.

Thus, if the owners of ABC Company would buy these <em>pieces of </em><em>advice</em>, they would improve internal controls without offending the hardworking former office manager.

Learn more: brainly.com/question/17056417

You might be interested in
Mom &amp;Pop Inc. has a demand forecast for the next 6 month. It can currently produce 2000 units per month and each worker can
LiRa [457]

Answer:

See attached picture.

Explanation:

See attached picture for explanation.

8 0
3 years ago
Oxford, Inc., which uses a process-cost accounting system, began operations on January 1 of the current year. The company incurs
Nookie1986 [14]

Answer:

3,000 physical units in the production

Explanation:

Given that,

Oxford started work on 3,000 units during the period

Units were 70% of the way through manufacturing

Therefore,

Physical units in the production = 3,000 units

Equivalently units of production is as follows:

= 70% of Physical units in the production

= 0.7 × 3,000 units

= 2,100 units

Hence, it would be correct to say that the company has 3,000 physical units in the production.

8 0
3 years ago
Whispering Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures w
HACTEHA [7]

Answer and Explanation:

The weighted-average accumulated expenditure method will be used to compute the interest amount to be capitalized for a qualifying asset. Then the expenditure incurred during a particular month shall be multiplied by that month's outstanding and the sum is later divided over the total months in a given period.

(Check the attachment below for the computation of Whispering’s weighted-average accumulated expenditures for interest capitalization purposes.)

Therefore, Whispering's weighted-average accumulated expenditures for interest capitalization purposes is $2,334,000.

4 0
3 years ago
Delaney company is considering replacing equipment which originally cost $600,000 and which has $420,000 accumulated depreciatio
Gelneren [198K]
From the given original cost and the total accumulated depreciation of the old equipment, it can be seen that the value of the equipment should still be $180,000.
                            salvage value = $600,000 - $420,000 = $180,000
Given that it can be sold for only $18,000, the sunken cost is $162,000. 
                            sunken cost = $180,000 - $18,000 = $162,000
7 0
3 years ago
A monopolist is forced to lower its price in order to sell another unit of its product. this describes the problem of:________
Alborosie

A monopolist is forced to lower its price in order to sell another unit of its product. this describes the problem of marginal revenue is less than price.

A monopoly is a market structure in which  a single seller or a producer assumes that he has  a dominant position in an industry or any sector. Monopolies are discouraged in the  free-market economies as they try to  stifle the competition and limit different substitutes for consumers.

In the United States, antitrust legislation restricts monopolies which  ensures that one business cannot control a market and use that control to exploit its customers.

To know more about monopoly here:

brainly.com/question/10441375

#SPJ4

4 0
1 year ago
Other questions:
  • Susan threw away in the garbage an old chair that had been in her family for many years by placing it on the curb with the rest
    5·1 answer
  • What is important to remember when asking a person to be part of your employment network?
    15·1 answer
  • g Zander Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold
    7·1 answer
  • Patrick is the CFO of Reed Inc. Patrick says that RI earned $13 million last year and maintains a 30% dividend payout ratio. The
    9·1 answer
  • Which of the following is not an example of IFRS simplified for SMEs?
    8·1 answer
  • The Neptune Company offers network communications systems to computer users. The company is planning a major investment expansio
    8·1 answer
  • What fortnite divsion r u in on arena im in division 6 drop ur name
    14·2 answers
  • Smolira Golf Corp. has 20,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2018 w
    6·1 answer
  • 2) Can a caterer use leftover foods donated to a charity as a charitable tax deduction? Why or why not?
    6·1 answer
  • In tax year 2020, a married taxpayer with AGI of $300,000 had gross investment income of $6,150 (which included a long-term capi
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!