An organization uses internal control to enhance the accuracy and reliability of its accounting records and to:
Question:
An organization uses internal control to enhance the accuracy and reliability of its accounting records and to:
(a) safeguard its assets.
(b) prevent fraud.
(c) produce correct financial statements.
(d) deter employee dishonesty.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Answered By
Arshad Ahmad
Well, I am really new to tutoring but I truly believe a good student can be a better teacher. I have always been a topper at school. I passed my Chartered Accountancy at a very young age of 23, a rare feat for most of the students. I am really dedicated to whatever work I do and I am very strict regarding deadlines. i am always committed and dedicated to whatever work allotted to me and I make sure it is completed well within deadline and also I try to give my best in whatever I do. Hope we will have a good time studying together.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
Question Posted:
Students also viewed these Business questions
-
EE101 Task. 1. Implement a C++ class named Pendulum to represent a simple pendulum. 2. The class should have private member variables for the length of the pendulum (length) and the acceleration due...
-
An organization uses internal control to enhance the accuracy and reliability of accounting records and to: (a) safeguard assets. (b) prevent fraud. (c) produce correct financial statements. (d)...
-
For what purpose are physical controls used in a business? To deter employee dishonesty. To prevent fraud. To produce accurate financial statements. To enhance the accuracy and reliability of its...
-
Determine the maximum weight of the crate so that the tension developed in any cable does not exceed 450lb. 2 ft 1ft 2 f 2 ft,
-
A firm with market power is producing a level of output at which price is $8, marginal revenue is $5, average variable cost is $6, and marginal cost is $10. In order to maximize profit, the firm...
-
The accounts below are taken from the ledger of Bartel Music Consulting on 30 June 2025, the end of the current financial year. Required (a) Using the General Journal, show the closing entries which...
-
Zapata, a Texas company, entered into a contract for Unterweser, a German company, to tow an oil-drilling rig from Louisiana to Italy. The contract stated, Any dispute arising must be treated before...
-
Lily Products Company is considering an investment in one of two new product lines. The investment required for either product line is $ 540,000. The net cash flows associated with each product are...
-
Operating systems and application programs play vital role in our daily usage of computers. Differentiate between an operating system and an application program give examples each.
-
Which of the following was not a result of the Sarbanes-Oxley Act? (a) Companies must file financial statements with the Internal Revenue Service. (b) All publicly traded companies must maintain...
-
Which of the following is not an element of the fraud triangle? (a) Rationalization. (b) Financial pressure. (c) Segregation of duties. (d) Opportunity.
-
A mixture contains 25.0 g cyclohexane (C 6 H 12 ) and 44.0 g 2-methylpentane (C 6 H 14 ). At 35 C, the vapor pressure of cyclohexane is 150 torr and that of 2-methylpentane is 313 torr. Assume that...
-
Affordable mortgage amount = (affordable monthly mortgage payment * 1,000) / current mortgage rate (7%, 30 year loan) current mortgage rate (7%, 30 year loan) What is the current mortgage rate?
-
What are the advantages and disadvantages of Islamic economics.? What steps should taken to evaluate the development of the Islamic economic system. Discuss the main elements of Islamic market...
-
Why is the study of financial business theories including budgets is important overall Program of Study in business? For example, if you want to pursue a major in Marketing- why is the study of...
-
What is the successful business model or business growth strategy in promoting the Islamic banking industry.
-
Earlier this year, Stuart finally decided to retire on his 72nd. He is eligible for the maximum CPP retirement benefit. If the maximum monthly retirement benefit at age 65 is $1,065.00, now that he...
-
How can ITT, or any company, change its employee manual?
-
When is the indirect pattern appropriate, and what are the benefits of using it?
-
Using Wikipedia (www.wikipedia.org), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does section 404 require of...
-
Using Wikipedia (www.wikipedia.org), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does section 404 require of...
-
Using Wikipedia (www.wikipedia.org), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does section 404 require of...
-
Apex Company prepared the statement of cash flows shown below: Apex Company Operating activities: Net income Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: $...
-
During 2022, Lehrman Company earned net income of $170,000 and paid dividends to preferred stockholders of $20,000. If the company had 30,000 shares of common stock outstanding for the entire year,...
-
Stem Games manufactures playing cards. It has three departments: Printing, Cutting & Collating, and Wrapping. Transferred-in costs are considered materials costs. The following information is...
Study smarter with the SolutionInn App