Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the questions clearly a. Road Runner Ltd is a lawn mowing and gardening business. The workers have been attacked by guard dogs in

please answer the questions clearly

a. Road Runner Ltd is a lawn mowing and gardening business. The workers have been attacked by guard dogs in the past resulting in injured workers and increased medical costs for the company. Road Runner Ltd now refuses all lawn mowing or gardening contracts where the client has a dog. The firms risk exposure to this source of cost is what and why?

b. Papa Smurf Ltd does home remodeling and repair. The firm hires sub-contractors to do the installation of drainage pipes because there are often problems with the installation resulting in leaks when it rains and also the materials themselves often require costly post-installation services. The firms risk exposure to this source of cost is what and why? .

c. If available, a 3.3% discount for payment within 10 days instead of 30 days represents an approximate savings of what % annually?

d. A control procedure designed so that the employee that records cash received from customers does not also have access to the cash itself is an example of what sort of control?

e. One way managers estimate the value of internal controls involves expected loss. What is the mathematical equation to demonstrate this expected loss and what is the value of a control procedure when involving expected loss?

f. To help strengthen internal controls no employee should be given too much responsibility. In terms of accounting duties these segregation of duties should cover three (3) main functions. Describe these functions and provide examples of each.

g. In terms of a disaster recovery plan to restore an organizations IT function in the event that its data center is destroyed please explain the difference between a cold site, a hot site, and a second data center.

Everything is clear. nothing on the text book please asnwer the questions correctly i need it asap
thankyou image text in transcribed
please answer the questions clearly a. Road Runner Ltd is a lawn mowing and gardening business. The workers have been attacked by guard dogs in the past resulting in injured workers and increased medical costs for the company. Road Runner Ltd now refuses all lawn mowing or gardening contracts where the client has a dog. The firm's risk exposure to this source of cost is what and why? b. Papa Smurf Ltd does home remodeling and repair. The firm hires sub-contractors to do the installation of drainage pipes because there are often problems with the installation resulting in leaks when it rains and also the materials themselves often require costly post-installation services. The firm's risk exposure to this source of cost is what and why? c. If available, a 3.3% discount for payment within 10 days instead of 30 days represents an approximate savings of what % annually? d. A control procedure designed so that the employee that records cash received from customers does not also have access to the cash itself is an example of what sort of control? e. One way managers estimate the value of internal controls involves expected loss. What is the mathematical equation to demonstrate this expected loss and what is the value of a control procedure when involving expected loss? f. To help strengthen internal controls no employee should be given too much responsibility. In terms of accounting duties these segregation of duties should cover three (3) main functions. Describe these functions and provide examples of each. g. In terms of a disaster recovery plan to restore an organization's IT function in the event that its data center is destroyed please explain the difference between a cold site, a hot site, and a second data center

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Government And Not For Profit Accounting Concepts And Practices

Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese

9th Edition

1119803896, 978-1119803898

More Books

Students also viewed these Accounting questions

Question

Did you add the logo at correct size and proportion?

Answered: 1 week ago

Question

Did you ask for action?

Answered: 1 week ago