Question: Two individuals at a retail store work the same cash register. You evaluate this situation as O supporting independent checks of performance. O a violation



Two individuals at a retail store work the same cash register. You evaluate this situation as O supporting independent checks of performance. O a violation of establishment of responsibility. O supporting the establishment of responsibility. O a violation of segregation of duties. A customer uses their Marigold credit card to charge a treadmill at Marigold. The price is $2600 and the interest charge is 12% per annum if the bill is not paid in 30 days. The customer fails to pay the bill within 30 days and interest is added to the customer's account. What is the amount of the interest? $52 O $26 O $312 O $10 A retailer that issues their own credit cards would recognize which of the following assets when a sale is made? O Cash O Credit Card Receivable O Notes Receivable O Accounts Receivable If a department store fails to make the entry to accrue the interest due from customers, O credit card receivables will be overstated. O interest revenue will be understated. O interest expense will be overstated. O interest expense will be understated
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
