Identify and describe the five primary components of a good internal control system.
Question:
Identify and describe the five primary components of a good internal control system.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
ANSWER Internal control refers to the policies procedures and systems established by an organization ...View the full answer
Answered By
Churchil Mino
I have been a tutor for 2 years and have experience working with students of all ages and abilities. I am comfortable working with students one-on-one or in small groups, and am able to adapt my teaching style to meet the needs of each individual. I am patient and supportive, and my goal is to help my students succeed.
I have a strong background in math and science, and have tutored students in these subjects at all levels, from elementary school to college. I have also helped students prepare for standardized tests such as the SAT and ACT. In addition to academic tutoring, I have also worked as a swim coach and a camp counselor, and have experience working with children with special needs.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Question Posted:
Students also viewed these Business questions
-
Identify and describe the five components of a good internal control system.
-
Identify the five components of a good internal control system.
-
An internal control system is designed to provide a reasonable assurance that all the control objectives are being achieved.Required; a. What purpose does an internal control system serve in an...
-
My company is Target (TGT). In this project, you will find and discern the appropriate data to determine a realistic assessment of the weighted average cost of capital for a firm of your choosing....
-
What is a prediction market?
-
Jo, John and Jack are three generations of the one family involved for nearly 50 years in providing legal services. The firm is preparing its fees budget for the year ending 30 June 2025. It budgets...
-
In the Sumet Company, two employees were terminated for falsifying their time records. The two employees had altered overtime hours on their time cards after their supervisors had approved the hours...
-
Presented below is information for Bach Company for the month of March 2014. Instructions (a) Prepare a multiple-step income statement. (b) Compute the gross profitrate. Cost of goods sold...
-
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: Budgeted direct labor-hours 1st Quarter 9,600 2nd...
-
In the study of the velocities of deep-water waves, the equation occurs. Solve for L. (3 + 7 ) z 1 = z4
-
In the corner grocery store, all the clerks make change out of the same cash register drawer. Is this a violation of an internal control activity? Explain.
-
Problems 95 104. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for later sections, a final exam, or subsequent courses such as calculus....
-
Evaluate machine XYZ on the basis of the PW method when the MARR is $12 \%$ per year. Pertinent cost data are as follows: Investment cost Useful life Market value Annual operating cost Overhaul cost...
-
A used conveyor dealer presents an investment package that requires you to pay $\$ 189.99$ a month with $\$ 1,499.00$ down and a nominal annual interest rate of $17 \%$. What is the actual cost of...
-
Home Realty, Incorporated, has been operating for three years and is owned by three investors. J. Doe owns 60 percent of the total outstanding stock of 9,000 shares and is the managing executive in...
-
A new graduate hired by the marketing research department of AT\&T is asked to prepare a questionnaire to determine household preferences for cell phone plans. The questionnaire is to be administered...
-
Compute the value of an option with strike \(\$ 100\) expiring in four months on underlying asset with present value by \(\$ 97\), using the binomial model. The risk-free interest rate is \(7 \%\)...
-
If X is an integrable r.v. and {An, n = 1, 2,....} are pairwise disjoint events, show that Split X into X+ and X- and use Corollary 1 (ii) to the Lebesgue Monotone Convergence Theorem (Theorem 1 in...
-
Refer to the data for problem 13-36 regarding Long Beach Pharmaceutical Company. Required: Compute each division's residual income for the year under each of the following assumptions about the...
-
Here are selected transactions for Cagle Corporation for 2010. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2000. The machine cost $52,000 and had a useful life of 10 years...
-
The intangible assets section of the balance sheet for Gore Company at December 31, 2010, is presented here. Patents ($70,000 cost less $7,000 amortization) ...... $63,000 Copyrights ($48,000 cost...
-
Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by the Hamlin Company in 2010. 1. Hamlin developed a new...
-
What are the key factors influencing employee engagement and retention in the contemporary workplace, and how can organizations design effective talent management strategies to address these factors ?
-
How do ethical dilemmas and moral reasoning processes influence ethical decision-making within organizational contexts, and what strategies can leaders implement to foster a culture of ethical...
-
PubCo, a semiweekly depositor, pays wages on Wednesday, June 3 0 , resulting in a deposit obligation of $ 2 3 , 0 0 0 . Assuming that Monday, July 5 is a federal holiday, when is they deposit due?
Study smarter with the SolutionInn App