Using a grocery store as an example, identify three of the five principles of internal control. For
Question:
Using a grocery store as an example, identify three of the five principles of internal control. For each internal control principle you identify, give one example of a control that a grocery store uses.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
An internal control system includes 1 physical controls locks alarms cash registers 2 assignment of ...View the full answer
Answered By
MICHAEL KICHE
I was employed studypool for the first time in tutoring. I did well since most of my students and clients got the necessary information and knowledge requested for. I always submitted the answers in time and followed the correct formatting in answering eg MLA or APA format,
Again I worked with the writers bay where I did writing and got many clients whom we worked with so closely. They enjoyed every single service I delivered to them. My answers are always correct.
4.70+
13+ Reviews
52+ Question Solved
Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
Question Posted:
Students also viewed these Business questions
-
Identify the control principles evidenced in the following statement: The company uses prenumbered cheques for all payments processed by its accounts payable clerks. Each clerk stamps paid on each...
-
On May 31, JB Games Ltd. received its bank statement from the East Coast Savings Bank showing that JB had a balance of $12,200. The companys general ledger showed a cash balance of $8,600 at that...
-
The following amounts were reported by Moksh Ltd. in its most recent statement of financial position: The company had sales of $860,000 in 2020 and $740,000 in 2019. All sales were on account....
-
Use the Principle of Induction to prove the formula for all natural numbers \(n\). \(1+2+3+\cdots+n=\frac{n(n+1)}{2}\)
-
Sketch ( for the next-lowest bound level in Fig. 2.5 II 3D0 3D1
-
Evaluate each exponential expression in Exercises 122. 33.32
-
Many single women and married couples use donated sperm to conceive children each year. Pennsylvania resident Donna Donovan decided to use donated sperm from Idant Laboratories, a New York sperm bank...
-
Triumph Trophies makes trophies and plaques and operates at capacity. Triumph does large custom orders, such as the participant trophies for the Minnetonka Little League. The controller has asked you...
-
Transform following Relational model into ER Model. id Author writes authorid bookid Book bookid title edition libid memberld name dob AuthorContact id contact publishes Library id bid date id...
-
Paul Jordan has just been hired as a management analyst at Digital Cell Phone, Inc. Digital Cell manufacturers a broad line of phones for the consumer market. Pauls boss, John Smithers, chief...
-
Identify three of the common principles of internal control discussed in the chapter. Using a coffee shop, give one example of how it applies each of the three principles you have identified.
-
Identify and explain three of the limitations that can affect the effectiveness of a companys internal control.
-
What taxes must an S corporation prepay by making quarterly estimated tax payments? Can a shareholder owning S corporation stock use the corporations estimated tax payments to reduce the amount of...
-
Consider the following data on the number of hours that students slept: 5 6 6 7 7 7 8 8 8 8 8 9 9 9 9 9 9 1 0 1 1 1 1 what is the frequency of 5 - 6 , 7 - 8 , 9 - 1 0 , 1 1 - 1 2 ?
-
A block of mass m slides on a rough surface and moves toward a spring with a spring constant k = 3474 N/m, as shown in the figure below. When the block is d 19, 1 m away from the 15,7 m/s. When the...
-
Sunshine is now operating a plant that has the ability to generate a cash flow of $3 million per year. A new legislation that will be passed shortly can change the operating of this plant. After the...
-
need help in writing an email to my employees describing why I think "What if a female CEO acted like Elon Musk" would be a good read for them and why is it a valuable read?
-
Josh is going to draw a net of a triangular prism. How many rectangles should there be in his drawing?
-
Best First Aid offers first aid training to individuals and groups across the city. The following information is available to be used in recording annual adjusting entries for the company's October...
-
Could the owner of a business prepare a statement of financial position on 9 December or 23 June or today?
-
Identify which of the fundamental qualitative characteristics each of the following traits are related to: R (relevance) or F (Faithful representation): a. Confirmatory value b. Neutrality c....
-
The following information for the current year was obtained from the accounting records of Safari Supplies Corporation: Retained earnings, beginning .......... $ 96,000 Retained earnings, ending...
-
Rhaman Company had the following transactions in its first month of operations: 1. On incorporation, the company had issued 11,000 common shares in exchange for $10,000 cash and office furniture and...
-
This problem presents a variation of the rancher-farmer example that we discussed in class. Suppose that a rancher faces a choice of how many cattle to put on his property. If he puts more than 21,...
-
Listen Jessica jogged 9km in an hour. She covered the last 4km at a speed that was 2k(m)/(h) slower than her speed in the first 5km. What was her speed over the first 5km ?
-
What strategies do you suggest for meeting the major challenges to intercultural communication in your life and profession?
Study smarter with the SolutionInn App