Answer:
1. Several individuals operate the cash register using the same register drawer. Weak Internal Control. <u>Establishment of Responsibility Internal control violated. </u>
Having many individuals have access to the cash register can lead to theft. Establishment of Responsibility is an internal control that calls for the minimal amount of people being able to do one task. This way issues can be traced faster.
2 .A monthly bank reconciliation is prepared by someone who has no other cash responsibilities. Good Internal Control. <u>Independent Internal Verification control followed. </u>
Independent Verification occurs when a person who is an employee of a company but not related to a task, audits that task to find out if any irregularities are present. It ensures unbiased review.
3. Joe Cockrell writes checks and also records cash payment journal entries. Weak Internal Control. <u>Segregation of Duties Internal control violated. </u>
Segregation of duty calls for the division of a job process into tasks that different people are to accomplish especially in relation to cash. It can help avoid fraud because people will not be able to approve payments for themselves which is what Joe Cockrell can do in this scenario. Joe can withdraw and decide not to record it.
4 .One individual orders inventory, while a different individual authorizes payments. Good Internal Control. <u>Segregation of Duties Internal control followed. </u>
Segregation of duty calls for the division of a job process into tasks that different people are to accomplish especially in relation to cash. By having one individual order inventory and the other authorizing payments, fraud can be better avoided.
5 .Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording. Weak Internal Control. <u>Documentation Procedures Internal control violated. </u>
Documentation procedures in a company ensure that the paper trail is efficiently recorded so that transactions can be followed up speedily. By sending unnumbered sales invoices to the Accounting department as well as taking so long to do so, the company is running an inefficient documentation process that will make tracking transactions more difficult.
Examples of some of the most prominent hard currencies are listed below: The U.S. dollar (USD) The euro (EUR) ... The Australian dollar (AUD)
Answer:
a. Four-firm concentration ratio is the total sales percentage of the top 4 burger shops in the industry;
= 25% + 24% + 18% + 12%
= 79%
b. Herfindahl index is the sum of the squares of the percentage sales of all the shops in the industry;
= 25² + 24² + 18² + 12² + 11² + 6² + 4²
= 1,842
c. Top 3 shops combine to form one shop.
= 25 + 24 + 18
= 67%
Four-firm ratio = 67% + 12% + 11% + 6%
= 96%
Herfindahl index = 67² + 12² + 11² + 6² + 4²
= 4,806
Answer:
1.17%
Explanation:
Expected return is 15.1 %
Risk free rate is 5.95 %
Market risk premium is 7.8%
Therefore the beta can be calculated as follows
Expected return= risk free rate + (beta×market risk premium)
15.1%= 5.95% + (beta × 7.8%)
15.1%-5.95%= 7.8% beta
9.15%= 7.8% beta
beta= 9.15%/7.8%
beta= 1.17%
A currency basket is a collection of various currencies with varying weightings. It is frequently used to determine the market value of another currency, a procedure known as currency peg. Forex traders may also use basket orders to trade many currency pairs at the same time.
Currency baskets are also used in contracts to minimize (or reduce) the risk of currency changes. Currency baskets include the European currency unit (which was replaced by the euro) and the Asian currency unit. The most well-known currency basket, though, is the US dollar index (USDX).
The drawbacks are:
- The first thing to make is that a basket currency peg system is opaque.
- The second issue is that an intermediate regime often limits certain sorts of policy collaboration and may even allow policy conflict.
- The third drawback, and arguably the most important, is that the basket currency system makes no declaration of the criteria governing management.
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