Business
Business, 24.10.2019 20:43, rhiannonwheatcr4468

The following control procedures are used in keaton company for over-the-counter cash receipts. (a) for each procedure, explain the weakness in internal control and identify the control principle that is violated. procedure weakness principle violated 1. each store manager is responsible for interviewing applicants for cashier jobs. they are hired if they seem honest and trustworthy. select a weakness select a violated control principle 2. all over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer. select a weakness select a violated control principle 3. to minimize the risk of robbery, cash in excess of $100 is stored in an unlocked briefcase in the stockroom until it is deposited in the bank. select a weakness select a violated control principle 4. at the end of each day, the total receipts are counted by the cashier on duty and reconciled to the cash register total. select a weakness select a violated control principle 5. the company accountant makes the bank deposit and then records the day’s receipts. select a weakness select a violated control principle

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 11:00, littlesami105
Which ranks these careers that employers are most likely to hire from the least to the greatest?
Answers: 2
image
Business, 22.06.2019 18:10, salvadorperez26
Find the zeros of the polynomial 5 x square + 12 x + 7 by factorization method and verify the relation between zeros and coefficient of the polynomials
Answers: 1
image
Business, 22.06.2019 19:00, montgomerykarloxc24x
For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?
Answers: 1
image
Business, 22.06.2019 23:50, yatayjenings12
Analyzing operational changes operating results for department b of delta company during 2016 are as follows: sales $540,000 cost of goods sold 378,000 gross profit 162,000 direct expenses 120,000 common expenses 66,000 total expenses 186,000 net loss $(24,000) suppose that department b could increase physical volume of product sold by 10% if it spent an additional $18,000 on advertising while leaving selling prices unchanged. what effect would this have on the department's net income or net loss? (ignore income tax in your calculations.) use a negative sign to indicate a net loss answer; otherwise do not use negative signs with your answers. sales $answer cost of goods sold answer gross profit answer direct expenses answer common expenses answer total expenses answer net income (loss) $answer
Answers: 1
Do you know the correct answer?
The following control procedures are used in keaton company for over-the-counter cash receipts. (a)...

Questions in other subjects:

Konu
Arts, 14.07.2019 13:20