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sleet_krkn [62]
3 years ago
11

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

mpany’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? (2





Q3. At the end of the month, XYZ company’s bank statement is different from the cash book balance. How would the company do the bank reconciliation? (​
Business
1 answer:
Over [174]3 years ago
5 0

The risk of not implementing internal control is that it can lead to unethical practices in the workplace.

Internal control refers to the process for assuring the objectives of an organization in operational efficiency and effectiveness. Reliable financial reporting and compliance with laws are vital in internal control.

The risk of not implementing internal control is that it can lead to unethical practices. Also, since there isn't any review of the work done by the financial manager, and this can be risky for the company. This can lead to fraudulent activities.

Since the bank statement is different from the cash book balance, the bank can reconcile this by getting the bank records. This can be done through the checking of appropriate debit and credit transactions in the bank records.

Read related link on:

brainly.com/question/25219745

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How do u calculate the bill total for the week by summing the daily bill amounts
tino4ka555 [31]

Answer:

Calculating the bill total for the week:

The Sum Function in excel is a very easy mathematical operation to sum the daily bill amounts.  In the cell for the sum, you can manually enter the sum function by typing (=sum), then you define the parameters (=sum(C50:I50).  One you press the "enter" the result is automatically displayed.  This can also be automatically done by pressing the Sum Function on the Ribbon or Alt + =.

Explanation:

In Microsoft Excel, the Sum Function is a mathematical operation or syntax that provides the formula for adding, subtracting, or getting the total numerical content of indicated cells. With the Sum Function of Excel you can add, subtract, multiply, and divide, for example A1 * A4, C20/A2, A4 - A5, and so on.

3 0
4 years ago
A company purchased 10 units for $5 on January 3. It purchased 10 units for $7 each on February 28. It sold 10 units on March 1.
NeTakaya

Answer:

The dollar amount for ending inventory using the last-in-first-out method of inventory valuation is $50

Explanation:

Using LIFO,last-in-first-out  method of inventory valuation,items received last into the store are deemed to be sold first, hence the sales of 10 units on March 1 was the inventory purchased on February 28, leaving the items of inventory purchased on January 3 as closing inventory

value of closing inventory using LIFO=10*$5=$50

3 0
3 years ago
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
rewona [7]

Answer:

It belongs to Alma because Susan abandoned it and Alma took possession of it

Explanation:

By common law, Alma is a person who has found an abandoned property and she may claim it. To do this, she has to take some definite steps to show her claim. Alma can claim this abandoned piece of chair by taking it into her house, or by placing a sign on it to show that she now owns it.

If Susan was to take this to court, the court would determine the kind of item and where it was found to determine if Alma has a right to it. But since it was found in a dump site she now has the right to it.

5 0
4 years ago
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maksim [4K]

Answer: innovator

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From the question, we are informed that whenever Andrew considers upgrading his personal computer system, he normally consults with Jeremy, a knowledgeable friend who always has the newest technology.

Regarding the question, Jeremy is an innovator. An innovator is someone who has embraced new ideas and is always trying out new gadgets and technology.

8 0
3 years ago
The aggregate demand curve shows the graphical relationship between the aggregate price level and the A. supply available. B. ma
Andrews [41]
The answer is c. ok ok ok ok


7 0
3 years ago
Read 2 more answers
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