Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 25, 2020

Separation of duties is an internal control technique that requires all of the following except

Step by Step Solution

★★★★★

3.49 Rating (162 Votes )

There are 3 Steps involved in it

Step: 1

Segregation of duties is a key internal contro... 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

Step: 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

Financial and Managerial Accounting

Authors: Horngren, Harrison, Oliver

3rd Edition

978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978

More Books

Students also viewed these Accounting questions

Question

★★★★★

Separation of duties is a key internal control. Requirement 1. Explain in your own words why separation of duties is often described as the cornerstone of internal control for safeguarding assets....

Answered: 1 week ago

Question

★★★★★

Is an internal control structure really necessary? Your uncle doesnt seem to think so. He works for a regional employment staffing service and recently commented, As long as a company hires...

Answered: 1 week ago

Question

★★★★★

Explain in your own words why separation of duties is often described as the corner-stone of internal control for safeguarding assets. Describe what can happen if the same person has custody of an...

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

Health care costs are reportedly rising at an annual rate that is triple the general inflation rate. The current inflation rate is running at 4% per year. In 10 years, how much greater will health...

Answered: 1 week ago

Question

★★★★★

How common are different somatic symptom disorders?

Answered: 1 week ago

Question

★★★★★

2.59 Electrolysis An analytical chemist wanted to use electrolysis to determine the number of moles of cupric ions in a given volume of solution. The solution was partitioned into n = 30 portions of...

Answered: 1 week ago

Question

★★★★★

The financial statements for Castile Products, Inc., are given below: Account balances at the beginning of the year were accounts receivable, $25,000; and inventory, $60,000. All sales were on...

Answered: 1 week ago

Question

★★★★★

A communication channel has a bandwidth of 1MHHz, and a signal-to-noise ratio of 1023 . What is its channiat capacity? A. None 8. 100kbpe C. 10Mbpe D. 20Mbps E. 1004 bos 1Mbps QUESTION 9 For a wave...

Answered: 1 week ago

Question

★★★★★

In the 2018 General Social Survey (GSS), 2,344 respondents answered the question, How many children have you ever had? The results were a. Is the variable, number of children, categorical or...

Answered: 1 week ago

Question

★★★★★

On December 1, 2020 ROCKY Inc. delivered 100 sacks of a new cement product and 100 packs of samples products, for testing purposes to HARDWARE STORE on a consignment basis. The hardware does not take...

Answered: 1 week ago

Question

★★★★★

What is the total absolute force felt on the top of the plug at the bottom of the tank show below? h 1 = 1 0 cm h 2 = 4 5 cm h 3 = 2 7 cm SGwater = 1 SGoil = 0 . 7 9 SGglycerin = 1 . 2 6 A plug = 4 x...

Answered: 1 week ago

Question

★★★★★

The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in...

Answered: 1 week ago

Question

★★★★★

Instead of making a single lump sum contribution, you decide to make monthly contributrions. Assume all of the other parameters are the same as above. How much will you have saved by the time you...

Answered: 1 week ago

Question

★★★★★

The two graphs below represent motions of two unknown damped oscillators as a function of time ( t ). What is the difference in the type of damping force? CoursHeroTranscribedText 05 -05- Oscillator...

Answered: 1 week ago

Question

★★★★★

Students should immediately note that these business units have pooled interdependence with respect to the training facilities . This is a relatively low level of interdependence , but it does...

Answered: 1 week ago

Question

★★★★★

which of the following is not required to occur prior to the report release date

Answered: 1 week ago

Question

★★★★★

Interest Compounded Annually. When P dollars is invested at interest rate i, compounded annually, for t years, the investment grows to A dollars, where A = P(1 + i) t . Trevor's parents deposit $7800...

Answered: 1 week ago

Question

★★★★★

White Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are traced directly to the products. Manufacturing overhead costs are allocated based on...

Answered: 1 week ago

Question

★★★★★

Refer to the Johnson data in S23-6, S23-7, and S23-9. Requirements 1. Compute the variable and fixed overhead variances. Use Exhibits 23-11 and 23-12 as guides. 2. Explain why the variances are...

Answered: 1 week ago

Question

★★★★★

Eagle Resources, which uses the FIFO method, has the following account balances at May 31, 2012, prior to releasing the financial statements for the year: Eagle has determined that the replacement...

Answered: 1 week ago

Question

★★★★★

A portfolio earned annual rates of 20%, 15%, -10%, 25%, and -5% in five successive years. What was the portfolios five-year equivalent annually compounded rate of return?

Answered: 1 week ago

Question

★★★★★

At the end of 2009, the Trans IMS Canadian Growth Fund had one of the worst 10-year compound annual returns of any Canadian diversified equity mutual fund. The funds annual returns in successive...

Answered: 1 week ago

Question

★★★★★

An $1100 investment earning 6.3% compounded annually grew to $4483.92. What was the term of the investment?

Answered: 1 week ago

Previous Question Next Question