A grand jury indicted the treasurer of National Bridge Taxi Company for stealing cash from the company.
Question:
A grand jury indicted the treasurer of National Bridge Taxi Company for stealing cash from the company. Over a 10 -year period the treasurer allegedly took almost \(\$ 50,000\) and attempted to cover the theft by manipulating the bank reconciliation.
\section*{Required}
What is the most likely way that a person would manipulate a bank reconciliation to cover a theft? Be specific. What internal control arrangement could have avoided this theft?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting
ISBN: 9780133118209
2nd Edition
Authors: Charles T. Horngren, Jr. Harrison, Walter T.
Question Posted: