Internal control can help organizations achieve efficiency of operations. Do you agree? Explain
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Agree Internal control is the process designed and implemented by ...View the full answer
Answered By
Shehar bano
I have collective experience of more than 7 years in education. my area of specialization includes economics, business, marketing and accounting. During my study period I remained engaged with a business school as a visiting faculty member and did a lot of business research. I am also tutoring and mentoring number of international students and professionals online for the last 7 years.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
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
Question Posted:
Students also viewed these Cost Accounting questions
-
A growing number of organizations have been the target of hacking attacks, or cyberattacks, in recent years. High-profile examples in the U.S. include Target Corp., Home Depot Inc., the Internal...
-
Internal control, components, procedures, and laws TERMS: 1. Internal control 2. Control procedures 3. Firewalls 4. Encryption 5. Control environment 6. Information system 7. Separation of duties 8....
-
Multiple Choice 1. An independent audit aids in the communication of economic data because the audit a. Confirms the exact accuracy of managements financial representations. b. Lends credibility to...
-
If you were advising a legal team on how to prepare for a discovery conference, what would you recommend or include? What issues should a legal team and its client consider? What are some of the...
-
Distinguish between the indirect and direct methods of reporting net cash flows provided by (used in) operating activities.
-
Two spheres, P and Q, which are of equal radii, are placed on a smooth, horizontal surface. Their masses are in and 2m, respectively. Initially, sphere Q is at rest and sphere P is projected with...
-
Prim launched in mid-2013, after passing through the prestigious Y Combinator business accelerator program earlier that year. Heres how Prims laundry service worked. Customers bagged their laundry...
-
As a financial analyst, you have just been handed the 2010 financial report of Firm A, a large, global pharmaceutical company. Firm A competes in both traditional pharmaceutical products and in...
-
18 years ago, I purchased 185 shares of a stock worth $14.25 per share. There was a 2:1 split, a 4:1 split, and a 3:1 split during that time period. Today the stock is worth $1.53 per share. If the...
-
Consider the demand for Fresh Detergent in a future sales period when Enterprise Industries' price for Fresh will be x1 = 3.70, the average price of competitors" similar detergents will be x2 = 3.90,...
-
What are cash equivalents? What is restricted cash? How should these be reported on the balance sheet?
-
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?
-
Using physical constants accurate to four significant figures (see inside front cover), verify the numerical values of the Bohr radius a 0 and the hydrogen ground-state energy E 1 .
-
Peter Pan was employed by Curry Ltd at a monthly salary of $20,000 up to 30 June 2018. In addition to his salary, the company also paid him a housing allowance of $5,000 per month, but he actually...
-
Why would an engineer be interested in the sulfate content of a wastewater to be subjected to anaerobic treatment? Explain.
-
What is the relationship between the equity risk premium and the aggregate value of the stock market? If the equity risk premium declined suddenly (holding all other factors constant), what would...
-
Deluxe Motors owns a Bobcat skid steer, today it is currently worth $28,300. Looking to the future they believe it will go down in value by 10% every year. Their operating and maintenance costs for...
-
The first two columns of the table show a monopoly's marginal revenue, and the last two columns show its marginal cost. Marginal revenue, Quantity, Marginal cost, Quantity, MR Q MC Q $11.00 10 $5.00...
-
What is produced by a DOM parser?
-
Evaluate the function at the given value(s) of the independent variable. Simplify the results. (x) = cos 2x (a) (0) (b) (- /4) (c) (/3) (d) ()
-
Prairie Park ASA was started on April 1 by F. L. Wright and associates. The following selected events and transactions occurred during April. Apr. 1 Shareholders invested 50,000 cash in the business...
-
Lena Fohn is a licensed accountant. During the first month of operations of her business, Lena Fohn, AG, the following events and transactions occurred. May 1 Shareholders invested 20,000 cash in...
-
Sean Browne owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year). Summarized transactions for January 2017 were as...
-
Under what conditions would the National Building Code (N.B.C.) be used, as opposed to the Ontario Building Code (O.B.C.)?
-
Each month I have to lie on my expense report in order to get reimbursed for an honest business lunch," is example of?
-
Secondary Analysis: This week visit the Keizer Online Library and find a full-text article on secondary analysis in research. Find a full-text article, download it, highlight it, and upload it to the...
Study smarter with the SolutionInn App