Karen Martinis was responsible for opening mail, processing vendor claims, and authorizing payments. She was involved in
Question:
Karen Martinis was responsible for opening mail, processing vendor claims, and authorizing payments. She was involved in a scheme in which she either double-paid vendor invoices, paid the wrong vendors, or overpaid the right vendors. What type of billing scheme is being described in this case?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (13 reviews)
This is a payandreturn billing scheme involving nonaccomplices In a payandr...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Is being right or wrong about moral issues in international marketing activities an absolute or is it relative? Explain.
-
A Pentecostal nurse claims she was constructively discharged after refusing to assist in medical procedures she considered to be abortions because of her religious beliefs. She was initially...
-
Karen Scanlon and Jennifer Shaw are opening a Submarines deli. Scanlon and Shaw need outside capital, so they plan to organize the business as a corporation. They come to you for advice. Write a...
-
Two popular methods of financial statement analysis are horizontal analysis and vertical analysis. Explain the difference between these two methods. Discuss.
-
A company claims that its low-salt tortillas contain only 130 mg of sodium per serving on average. An independent company randomly selects a package of the tortillas, which turns out to contain 141...
-
On January 1, 20X1, Washable Rug Company purchased a piece of equipment by signing a note with a below market rate of interest. The facts of the transaction are shown below. Note payable $ 300,000...
-
How do you mine use cases to find classes?
-
Mattel is a U.S.-based company whose sales are roughly two-thirds in dollars (Asia and the Americas) and one-third in euros (Europe). In September Mattel delivers a large shipment of toys (primarily...
-
Mark opens his own company and completes the following transactions in May: 5/1 Mark invests $14,000 into the business. 5/3 Purchased $3,800 of equipment on account. 5/4 Paid $560 premium for a...
-
Jeff Smith realizes that the first thing he must do is compare the liquidity, leverage, activity, and profitability ratios of the two companies. Using the income statement and balance sheet data...
-
What are some of the ways shell company invoices can be identified?
-
What type of internal controls can be used to help prevent pay-and-return billing schemes?
-
Which of the following supplemental disclosures to the statement of cash flows is not required when the indirect method is used? a. Income taxes paid. b. Reconciliation of net income to net cash...
-
Considering the present value of cash flows valuation model discussed in class, if rates decreased, holding everything else constant, A) would you expect a stock price to increase or decrease, and B)...
-
What are the implications of environmental, social, and governance (ESG) factors on risk management frameworks, and how can businesses effectively integrate them into their strategies?
-
Gabby has been laid off from the organization that she has worked at for almost a decade. Mark needs to make sure that Gabbys account is securely handled after her last day of work. What can he do to...
-
Suppose all the producers sell toasters through Wal-Mart, and WalMart lets producers choose from 2 options. With Option A, a producer sells a toaster at $49 but has to offer a free warranty to the...
-
In preparation for the outdoor season which begins in 8 weeks, a 45-year-old recreational tennis player would like to strengthen the muscles in her elbow and wrist. She hires a fitness specialist for...
-
Match each of the key terms above with the definition that best fits it. Inheritance ____ The complex organizational process whereby computerbased information systems are developed and maintained....
-
On average there are four traffic accidents in a city during one hour of rush-hour traffic. Use the Poisson distribution to calculate the probability that in one such hour there arc (a) No accidents...
-
A swaption is an option to enter a swap arrangement in the future. Suppose that company B has a debt of \(\$ 10\) million financed over 6 years at a fixed rate of interest of \(8.64 \%\). Company A...
-
Multiple Choice Questions: 1. Program alteration is an example of which of the following? a. An active vulnerability. b. A passive vulnerability. c. An active threat. d. A passive threat. 2. Which of...
-
Multiple Choice Questions: 1.Which of the following is often the weakest link in the ISMS? a. Employee supervision. b. Employee training and awareness. c. Employee procedures. d. Employee policies...
-
Multiple Choice Questions: 1. What are the seven increasing levels of assurance in Part 3 of ISO 15408 (The Common Criteria for IT Security Evaluations) called? a. Security evaluation classes. b....
-
This year, Company ABC purchases Class 8 (20%) Assets for $20,000, what is the maximum CCA for this year?
-
How is this information calculated from the available data? PV of Planning Period PV of Terminal Value Implied Ent Value Debt Implied Equity Value # of Shares Implied Share Price in EUR Implied Share...
-
A. On November 6, 2020 (Friday), you sold $120,000 of the following Treasury note: Maturity Coupon Bid 8/31/202 0.250 99.1660 5 Asked 99.1720 Compute the accrued interest and invoice (dirty or full)...
Study smarter with the SolutionInn App