Permitting only designated personnel to handle cash receipts is an application of the principle of: (a) segregation

Question:

Permitting only designated personnel to handle cash receipts is an application of the principle of:

(a) segregation of duties.

(b) establishment of responsibility.

(c) independent check.

(d) human resource controls.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

See More Books

Question Posted: Feb 11, 2024 03:00 AM

See More Questions

Permitting only designated personnel to handle cash receipts is an application of the principle of: (a) segregation of duties. (b) establishment of responsibility. (c) independent internal...
Question 1. Decide if each of the following statements is true or false and give proof. For a true statement you need to identify the values for the constants c and no as used in the definitions of...
Listed below are seven errors or problems which might occur in the processing of cash transactions. Also shown is a list of internal control principles. Evaluate each possible error and cite a...
Write a film script using this title "The arrival". THE ARRIVAL' WRITE A FILM SCRIPT USING THIS, TITLE DUMBFOUND: ASTONISH, AMAZE E62-67 SIMILE A METAPHOR ALLITERATION LIST OF THREE A LINE FROM A...
Pratt Company has old inventory on hand that cost $15,000. Its scrap value is $20,000. The inventory could be sold for $50,000 if manufactured further at an additional cost of $15,000. What should...
On 30 June 2025, the accountant for Leanne's Lawnmowing Service calculated that 1 months interest of $$1350$ had accrued on a bank loan. An interest payment of $$5200$ was made on 31 August 2025....
The results of the knockout rule may seem unsatisfactory because potentially, neither party is getting what he wants. What could an offeror do to prevent the knockout rule from knocking out any of...
Fair Lakes Hospital Corporation has been operating ambulatory surgery centers in Groveton and Stockdale, two small communities each about an hour away from its main hospital. As a cost control...
Step 2: Smooth Sailing 1. Edit the sshd_config file. [Your bash commands here]
Which of the following control activities is not relevant to when a company uses a computerized (rather than manual) accounting system? (a) Establishment of responsibility. (b) Segregation of duties....
Physical controls do not include: (a) safes and vaults to store cash. (b) independent bank reconciliations. (c) locked warehouses for inventories. (d) bank safety deposit boxes for important papers.
A small bead can slide without friction on a circular hoop that is in a vertical plane and has a radius of 0.100 m. The hoop rotates at a constant rate of 4.00 rev/s about a vertical diameter (Fig...
A.Assume there is a regression model that was able to identify the factors which affected exchange rate movements in a recent fouryear period.Also, suppose that the sensitivity of the exchange rate's...
Define and discuss in detail the five functions performed by financial intermediaries with examples of each function.
What does a UNIX system administrator does? What the day-to-day tasks and longer running projects would entail? What is the concept of a filter? How can filters be used with UNIX commands? What is...
Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses...
I took my son to lunch and spent $8.00. Then we stopped at the discount store and spent 1/4 of the money that was left in my wallet. This left me with $9.00. How much money did I have to start with?
Make an argument on behalf of the college.
What are the key elements of a system investigation report?
(a) How are cash equivalents reported in the financial statements? (b) What are some examples of cash equivalents?
(a) How are cash equivalents reported in the financial statements? (b) What are some examples of cash equivalents?
Identify each of the following as relating to (a) The control environment, (b) Control procedures, or (c) Information and Communication. 1. Separating related operations 2. Report of internal...
Let y(t)= r(t)-r(t-1)-r(t-2)+2r(t-3)-r(t-4)-u(t-4), where r(t) is the ramp function. a) plot y(t) (10 pts.) b) plot z(t)=y(2t-1) (10 pts.) c) plot y'(t) (10 pts.) d) calculate the energy of y(t) (10...
The revenue function R(x) and the cost function C(x) for a particular product are given. These functions are valid only for the specified range of values. Find the number of units that must be...
Asia Inc. has sales revenue of $10,000, Depreciation of $2,000, interest expense of $1,500, current assets of $3,600, net fixed assets of $19,500, current liabilities of $3,100, and long-term debt of...

Permitting only designated personnel to handle cash receipts is an application of the principle of: (a) segregation

Question:

Step by Step Answer:

Financial And Managerial Accounting

Students also viewed these Business questions