Business
Business, 30.08.2021 17:20, smiley29162

Whole Fruits Market took the following actions to improve internal controls. For each of the following actions, identify the internal control principle the company followed. a. Prohibit the record keeper from having control over cash.
b. Purchased an insurance (bonding) policy against losses from theft by a cashier.
c. Each cashier is designated a specific cash drawer and is solely responsible for cash in that drawer.
d. Detailed records of inventory are kept to ensure items lost or stolen do not go unnoticed.
e. Digital time clocks are used to register which employees are at work at what times.
f. External auditors are regularly hired to evaluate internal controls.

answer
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 11:10, Emmaxox715
Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. βˆ’ exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) βˆ’ na = (360 ) (360 ) oa b. na = (360 ) + 360 360 βˆ’ na = 360 na c. (360 ) = na + (360 ) (360 ) βˆ’ na = (360 ) na d. na = (360 ) + 360 360 βˆ’ na = 360 na
Answers: 1
image
Business, 22.06.2019 12:50, angelrenee2000
There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration
Answers: 2
image
Business, 22.06.2019 16:10, SmokeyRN
Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.
Answers: 2
image
Business, 22.06.2019 17:00, staffordkimberly
Explain how can you avoid conflict by adjusting
Answers: 1
Do you know the correct answer?
Whole Fruits Market took the following actions to improve internal controls. For each of the followi...

Questions in other subjects: