In the ice cream shop, all employees make change out of the same cash register drawer. Is

Question:

In the ice cream shop, all employees make change out of the same cash register drawer. Is this a violation of internal control? Why or why not?

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

Step by Step Answer:

Related Book For book-img-for-question

Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

See More Books

Question Posted: Mar 15, 2017 11:23 AM

See More Questions

Is this a violation of the EPA?
Plaintiff Williams purchased a cherry-pecan ice cream cone from the defendants shop. While eating the ice cream, she broke her tooth on a cherry pit that was in the ice cream. She sued defendant...
The ice cream shop described in the text has been a smash success. Customers from the next college town are pleading with you to open one closer to them. Based on your operating experience and...
1. Insurance Act, RSBC 1996 c226 Read Parts 1 and 2 of this statute and describe any changes to the standard commonlaw rules for contracts that you notice. 2. KP Pacific Holdings Ltd. and Churchland...
Describe the six-step process that can be used to prepare a statement of cash flows by analyzing the income statement and comparative balance sheets.
A particle of mass in is dropped from a great height. The air resistance on the particle is given as inky N. a. Show that dv/dt = g kv. b. Hence, show that v = g/k(1 e -kt ). c. State the speed of...
(a) Show that Eqs. 8.47 reduce to Eqs. 8.46 when you consider a system of just one object. (b) Follow the procedure used to get from Eq. 8.21 to Eq. 8.24 for a system of many interacting objects....
KPS Communications is planning to bring wireless Internet access to the town of Ames, Iowa. Using a geographic information system, KPS has divided Ames into the following 5 by 5 grid. The values in...
All work must be shown on every facet of the solution. This includes a timeline with cashflows, timing and rates clearly laid out and formulas (in pure form, not in the calculator or excel form). A...
Find the indicated probabilities using the geometric distribution, the Poisson distribution, or the binomial distribution Then determine if the events are unusual. If convenient, use the appropriate...
"Internal control can help organizations achieve efficiency of operations." Do you agree? Explain
Trushi Miyamura is questioning why independent checks of performance are important if the company also segregates duties. Respond to Trushi's question?
Amazon.com, Inc., gained renown as online marketplace for books, records, and other products. Although the increase in its stock price was initially meteoric, only recently has the company begun to...
The purpose of the code is to play a number guessing game with the user. The current output of this code is the following: Let's play a number guessing game. How many games do you want to play? 3...
1. What is the purpose of the below function public double array Function (double[] arr) { double num arr[0]; for(int i=0; i < arr.length; i++) if(arr[i] < num) { { num = arr[i]; } } } return num;
Write program in Java programming that Based on GUI using JFrame form and make these Screens : Sign In to Fiverr Continue with Facebook G Continue with Google Continue with Apple nasir_shafique...
a Java file for Trainer class that will produce given sample output int money -int potions -int pokeballs - Point loc - Map map Trainer ArrayList pokemon + Trainer(String n, Pokemon p, Map m) +int...
How is WACC calculated ? How are WACC and capital budgeting related? Provide an example of a company that calculates it's WACC and uses it - how do they use it?
What is produced by a SAX parser?
Determine the center and radius of each circle. Sketch each circle. 4x 2 + 4y 2 9 = 16y
The trial balance of the Jason Company Ltd. shown below does not balance. Your review of the ledger reveals that each account has a normal balance. You also discover the following errors. 1. The...
The Classic Theater Ltd. opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash 6,000, No. 140 Land 10,000, No. 145 Buildings (concession stand,...
Judi Dench is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Shareholders invested 40,000 cash in exchange for...
Pangasa Co. paid its annual worker accident insurance premium of $48,000 on its manufacturing facility in January. The company expects two worker accidents to happen during the year, and to make...
3. The game of baseball is often analyzed using Markov models. The state of the game can be represented by listing bases that have runners and keeping track of how many outs there are. There are...
Thornton Electronics currently produces the shipping containers it uses to deliver the electronics products it sells. The monthly cost of producing 9,300 containers follows. Unit-level materials...

In the ice cream shop, all employees make change out of the same cash register drawer. Is

Question:

Step by Step Answer:

An essential control activity is to make specific employees respo...View the full answer

Accounting Principles Part 1

Students also viewed these Cost Accounting questions