Describe the internal control features that were missing that enabled the employee to commit this fraud. Describe what actions the employer should take to prevent this kind of fraud from happening in the future.

High-Flying Auto Dealer Employee Steals $10M For Luxuries
The scheming employee was able to electronically transfer funds from the company's online account to her own personal account and use the funds to buy four homes, 10 vehicles, Louis
Vuitton luggage, jewelry, $30,000 in pre-paid travel funds and stow away more than $20,000 in savings, court records show. Authorities said she covered up the thefts with a series of fake transactions as well as listing phantom cars in inventory so they could be recorded as assets.

Employees of dti, inc. worked 1,600 direct labor hours in january and 1,000 direct labor hours in february. dti expects to use 18,000 direct labor hours during the year, and expects to incur $22,500 of worker’s compensation insurance cost for the year. the cash payment for this cost will be paid in april. how much insurance premium should be allocated to products made in january and february?

John is a 45-year-old manager who enjoys playing basketball in his spare time with his teenage sons and their friends. at work he finds that he is better able to solve problems that come up because of his many years of experience, but while on the court, he finds he is not as good keeping track of the ball while worrying about the other players. john's experience is:

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.