Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 (3 points) Which of the following is a preventative control (versus a detective control)? Taking periodic inventory. Month-end bank reconciliations. Periodically checking customer

image text in transcribed
Question 8 (3 points) Which of the following is a "preventative control" (versus a detective control)? Taking periodic inventory. Month-end bank reconciliations. Periodically checking customer balances for account write-off activity. Keeping inventory in a locked room that only a shift leader has the keys for. Question 9 (3 points) Which of these is NOT a way to reduce the chances of a shell company scheme? Regularly update the list of approved vendors. Periodically compare vendor addresses to employee addresses. Separate duties between purchase, receiving and payment functions. Reconciliations bank activity with company records routinely

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

Step: 3

blur-text-image

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

Financial Accounting For Executives And MBAs

Authors: Wallace, Simko, Ferris

4th Edition

1618531980, 9781618531988

More Books

Students also viewed these Accounting questions

Question

Tell me what you know about our organization and the position.

Answered: 1 week ago

Question

What is the content-level meaning?

Answered: 1 week ago