Which of the following is not generally an internal control activity? a. Establishing clear lines of authority

Question:

Which of the following is not generally an internal control activity?

a. Establishing clear lines of authority to carry out specific tasks

b. Physically counting inventory in a perpetual inventory system

c. Limiting access to computerized accounting records

d. Reducing the cost of hiring seasonal employees

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones Of Financial Accounting

ISBN: 9780176707125

2nd Canadian Edition

Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone

See More Books

Question Posted: Jun 07, 2024 01:15 AM

See More Questions

Multiple Choice questions 1. What is the primary role of internal controls in managing a business? a. To prevent cash from being stolen. b. To constrain subordinates activities in order to prevent...
Multiple-Choice Questions 1. What is the primary role of internal controls in managing a business? a. To ensure that no cash is stolen. b. To ensure that the financial statements are presented in...
I"m struggling with juggling on my classes and family life. I am needing help with my principles of finance midterm. please see attachment. I'm needing a 95 score or better. please help. if you have...
Suppose that today, you paid $1,000 for the bond described in Problem 8 of Chapter 8, The net present value functions: NPV and XNPV. What would be the bonds IRR? A bonds IRR is often called the yield...
Discuss the brand personalities of Kodak, Mountain Dew, and Prudential Insurance, and describe how these brand personalities were created.
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year...
Identify the population and the sample in the following study. A study of the dietary habits of 20,000 men was conducted to find a link between high intakes of dairy products and prostate cancer....
1. Look again at the facts offered by both the majority and the dissent. Why do you think Echazabal was willing to risk his health by working in the coker unit? Assuming he had a complete grasp of...
Oak St. Store has $500,000 in Accounts Receivable on December 31, 2018. Oak St. estimates uncollectible accounts to be 5% of Accounts Receivable. Select the correct adjustment for uncollectible...
Allowing only certain employees to order goods and services for the company is an example of what internal control procedure? a. Proper authorization b. Segregation of duties c. Safeguarding of...
The internal audit function is part of what element of the internal control system? a. Control environment b. Control activities c. Monitoring d. Risk assessment
Which of the following red flags is commonly associated with fictitious expense reimbursement schemes? 1. Patterns when expense reimbursements are for the same amount 2. Ghost employees receiving...
Given the following memory status below, compute how much does it cost to compact holes together with the following compaction strategies if 1 kbyte of movement costs 50 centavos. 0. OS OS OS OS OS...
ITG Pte Ltd ("ITG") is a company specialising in air-conditioner maintenance and servicing. It makes adjusting and closing entries every 31 December, which is the company's financial year-end. Unless...
(20 points) We know that when we have a graph with negative edge costs, Dijkstra's algo rithm is not guaranteed to work. (a) Does Dijkstra's algorithm ever work when some of the edge costs are...
Create a new user called cis605_usr. Use Master. assign a password of abcd, set check_policy to off and check_expiration to off (Why set these two to off?). Execute the sp_addsrvrolemember to add the...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Date Units...
Data for Johnston Company are presented in P13-7B. Further analysis reveals the following. 1. Accounts payable pertains to merchandise creditors. 2. All operating expenses except for depreciation are...
A 6-lb shell moving with a velocity ?? v0k explodes at point D into three fragments which hit the vertical wall at the points indicated. Fragments A, B, and C hit the wall 0.010 s, 0.018 s, and 0.012...
Required information [The following information applies to the questions displayed below.] Dain's Diamond Bit Drilling purchased the following assets this year. Asset Drill bits (5-year) Drill bits...
Which of the following partnership items are not included in the self-employment income calculation? Ordinary income. Section 179 expense. Guaranteed payments. Gain on the sale of partnership...
Phantom Consulting Inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program...

Which of the following is not generally an internal control activity? a. Establishing clear lines of authority

Question:

Step by Step Answer:

Cornerstones Of Financial Accounting

Students also viewed these Business questions