You are watching: Which of the following is not a principle of internal control?
Which of the following is not a principle of interior control?Collusion between employeesDocumentation proceduresBonding the employeesSegregation of duties
For what purpose are physics controls provided in a business? come deter employee dishonesty.To protect against fraud.To enhance the accuracy and also reliability the its accounting records and also to safeguard its assets.To develop accurate gaue won statements.
To enhance the accuracy and also reliability that its audit records and also to safeguard its assets.Physical controls are applied specifically come safeguard assets and to improve the accuracy and also reliability of bookkeeping records. They carry out not protect against fraud.
Aptara building and construction Supplies has actually a cashier who is also the accounts receivable clerk because that the company. I m sorry internal regulate principle is violated?Documentation proceduresRotating employee dutiesEstablishment that responsibilitySegregation of duties
For which item listed below might a financial institution issue a credit memorandum to a depositor"s account?Outstanding checksAn NSF checkInterest earnedMonthly business charges
Interest earnedCorrect! due to the fact that the bank considers the depositor"s account balance to be a liability, a credit transaction memo causes an increase in the bank account and a debit memo reasons a decrease. Attention earned increases the liability of the bank and is achieved with a credit transaction memo.
A agency has the adhering to items at year end: cash ~ above hand, $1,000; cash in a check account, $3,000; cash in a to save account, $5,000; postage stamps, $50; and Treasury bills, $10,000 that mature in much less than 90 days. Just how much must the firm report as cash and cash equivalents ~ above its balance sheet?
Which that the adhering to is not a an easy principle the cash management?Delay the payment that liabilitiesGrant client as lot time as they want to pay your receivablesInvest idle cashKeep inventory level low
A check is composed to replenish a $100 petty cash money when the fund includes $3 of cash and also $94 that receipts. I m sorry of the complying with is one component of the entry come be provided in recording the check to replenish? petty Cash will be credited for $3Cash Over and also Short will be debited because that $3Petty Cash will be debited because that $94Cash will certainly be attributed for $94
Which one of the adhering to is one international firm that has actually been victim of international fraud as disputed in her textbook?BP (United Kingdom)UBS (Switzerland)Parmalat (Italy)McDonalds (US)
+Per books+EFT collections and also other deposits-NSF checks-Service charges and other payments +/- agency errors=Adjustment balance
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