The following situations suggest a strength or a weakness in internal control. Identify each as a strength
Question:
a. All employees must take at least five consecutive days off each year.
b. The accounting department orders merchandise and approves invoices for payment.
c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.
d. The officer who signs the checks need not examine the payment packet because he is confident the amounts are correct.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
a Strength When an employee is on vacation errors or irregula...View the full answer
Answered By
Mwangi Clement
I am a tried and tested custom essay writer with over five years of excellent essay writing. In my years as a custom essay writer, I have completed more than 2,000 custom essays in a diverse set of subjects. When you order essays from me, you are working with one of the best paper writers on the web. One of the most common questions I get from customers is: “can you write my essay?” Upon hearing that request, my goal is to provide the best essays and overall essay help available on the web. I have worked on papers in subjects such as Nursing and Healthcare, English Literature, Sociology, Philosophy, Psychology, Education, Religious Studies, Business, Biological Sciences, Communications and Media, Physical Sciences, Marketing and many others. In these fields, my specialties lie in crafting professional standard custom writings. These include, but are not limited to: research papers, coursework, assignments, term papers, capstone papers, reviews, summaries, critiques, proofreading and editing, and any other college essays.
My extensive custom writings experience has equipped me with a set of skills, research abilities and a broad knowledge base that allows me to navigate diverse paper requirements while keeping my promise of quality. Furthermore, I have also garnered excellent mastery of paper formatting, grammar, and other relevant elements. When a customer asks me to write their essay, I will do my best to provide the best essay writing service possible. I have satisfactorily offered my essay writing services for High School, Diploma, Bachelors, Masters and Ph.D. clients.
I believe quality, affordability, flexibility, and punctuality are the principal reasons as to why I have risen among the best writers on this platform. I deliver 100% original papers that pass all plagiarism check tests (Turnitin, Copyscape, etc.). My rates for all papers are relatively affordable to ensure my clients get quality essay writing services at reasonable prices.
4.50+
5+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
The following situations suggest a strength or a weakness in internal control. a. Top managers delegate all internal control procedures to the accounting department. b. The accounting department...
-
The following situations suggest either a strength or weakness in an internal control activity: 1. At Tingley's, Iryna and Inder work alternate lunch hours. Normally, Iryna works the cash register at...
-
Describe and give a reason for the law of supply.
-
In 1789, Henry Cavendish estimated the density of the earth by using a torsion balance. His 29 measurements follow, expressed as a multiple of the density of water. (a) Calculate the sample mean,...
-
Suppose that types a and b interact with a fixed population of 500 of the other (set b = 500 in the differential equation for a). If each state variable in a system of autonomous differential...
-
A drop of green ink falls into a beaker of clear water. First describe what happens. Then explain the outcome in terms of entropy.
-
Items in the table below need to be categorized (if relevant) as part of an income statement. Indicate whether each of the accounts falls under the category of operating expense, cost of goods sold,...
-
M. K. Gallant is president of Kranbrack Corporation, a company whose stock is traded on a national exchange. In a meeting with investment analysts at the beginning of the year, Gallant had predicted...
-
1. Using Python, encrypt your name in CTR mode. (You can use a library like PyCryptoDome for the encryption.) b. Implement the bit-flipping attack on the CTR-mode encrypted message from the previous...
-
Work with your supervisor at your Host Company, to complete the project mentioned below- 13 (Network Upgradation Proposal) Organization: Travel Adventure Project Name: Upgradation of current network...
-
Hannas Video Store maintains the following policies/procedures with regard to internal control. Indicate by letter which of the following control activities applies to each of the following...
-
Identify the missing internal control in the following situations. Select from these activities: Proper authorization Separation of duties Adequate documents and records a. While reviewing the...
-
If either parents get involved in their childrens education or the school year is lengthened, then if the children learn phonics, their reading will improve and if they are introduced to abstract...
-
Search YouTube for a product advertisement while keeping in mind the motivation strategies which we discussed in today's class Follow the below steps Copy and paste the link to the ad which you have...
-
Macro level theories such as Anomie and Social disorganization require us to shift our focus to elements of the social structure that either facilitate or hinder delinquency. Classic...
-
How do school-based policies and practices reflect institutional racism? How can educators invite and encourage the involvement of families? Why is it important to openly discuss issues that are seen...
-
I need some guidance to respond to the following ... Some of the tactics that I use to influence others are humor, praise, and comfort. A good example of this is my current situation taking care of...
-
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company usually produces all of the necessary parts for its engines, including all of the carburetors. An outside...
-
Draw a conformational representation of the following steroid. Show the -and -faces of the steroid, and label the angular methyl groups. . HC Bo B H H3C CH3 mu) H 0
-
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
-
Is it fair for a government to use borrowed money to cover a deficit because future generations of taxpayers will have to repay the loans?
-
Clock-tower Cleaning, Inc., had the following transactions for the month of March 2016. Mar 2 Paid Rent Expense, $900. 4 Performed service for a customer and received cash, $1,600. 8 Purchased...
-
Chad Simpson started a mobile DJ business named Sounds on Wheels, Inc., on April 1, 2016. In the month of April, prior to providing services to customers, the business incurred six transactions which...
-
Willis Construction, Inc., completed the following transactions during June 2016, its first month of operations: Jun 2 Sold $10,000 of common stock to Davis Willis to start the construction business....
-
Question: d. ?During December, Ingrid Legal Services provided legal services, and the client prepaid $7,000. ?Ingrid Legal Services recorded this amount as Unearned Revenue. The job will take several...
-
Question: A company had the following purchases and sales during the month of November:\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[November 1,Beginning inventory,5 units @...
-
Question: Tania, Inc. issued a note payable with principal and interest due at the end of the term of the note. Details about the note payable are as follows:Issuance date: October 1, fear...
Study smarter with the SolutionInn App