Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Management Expert

Listed below are five procedures followed by Parson Company.

1. Several individuals operate the cash register using the same register drawer.

2. A monthly bank reconciliation is prepared by someone who has no other cash responsibilities.

3. Fran Vorbeck prepares checks and also records cash payment journal entries.

4. One individual orders inventory, while a different individual authorizes payments.

5. Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording.

Indicate whether each procedure is an ex of good internal control or of weak internal control. If it is an ex of good internal control, indicate which internal control principle is being followed. If it is an ex of weak internal control, indicate which internal control principle is violated. Procedure IC good or weak? Related internal control principle

1. Weak Good Human Resource Controls Segregation of Duties Establishment of Responsibility Independent Internal Verification Documentation Procedures Physical Controls

2. Weak ood Documentation Procedures Human Resource Controls Physical Controls Independent Internal Verification Establishment of Responsibility Segregation of Duties

3. Weak Good Human Resource Controls Independent Internal Verification Segregation of Duties Documentation Procedures Physical Controls Establishment of Responsibility

4. Weak Good Human Resource Controls Documentation Procedures Segregation of Duties Independent Internal Verification Physical Controls Establishment of Responsibility

5. Weak Good Physical Controls Human Resource Controls Establishment of Responsibility Independent Internal Verification Documentation Procedures Segregation of Duties

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M915406

Have any Question? 


Related Questions in Business Management

Assume that the income of consumers changes by 10 and as a

Assume that the income of consumers changes by 10%, and as a result the quantity demanded for Good A changes by 8%. What is the income elasticity of demand for Good A? What does this mean for your company?

A machine cuts plastic into sheets that are 45feet

A machine cuts plastic into sheets that are 45feet (540inches) long. Assume that the population of lengths is normally distributed. Complete parts (a) and (b). (A) The company wants to estimate the mean length the machin ...

Securing and protecting informationyour company is debating

Securing and Protecting Information Your company is debating transferring all of their information to a Cloud storage provider. The CFO feels this move is a big cash savings plan, one that could save the company a lot of ...

You are the purchasing manager reporting to the managing

You are the Purchasing Manager reporting to the Managing Director of a company organized on a functional basis. Write a memo to the managing Director outlining the benefit of having regular meetings between the heads of ...

Analyzing and computer security chapter 11suppose four

Analyzing and computer security Chapter 11 Suppose four other parties, whom we might call E, F, G, and H, are all working on a common task, so they use one encryption key for all communication. Now, suppose H leaves the ...

Use the following guide as you write your assignment for

Use the following guide as you write your assignment for Week Three: Final Paper Prep: For the Final Paper, you are to choose an emerging managed care delivery model, Accountable Care Organizations, or Patient-Centered M ...

Please show your work round your calculations to three

Please show your work, round your calculations to THREE decimal places (e.g. 0.001 where appropriate). and if you have to, make reasonable assumptions, but explain/justify any assumptions made in your answers. Zan Azlett ...

Awer the following question below no plagiarism please

Answer the following question below ; no plagiarism please ; I need this answer in 2 hours ; I know it is short notice Suppose a manager believes that hiring three (3) more staff members would double productivity for the ...

Microsoft word - case study project two instructionsf16oil

Microsoft Word - Case Study Project Two Instructions_f16 Oil and Gas Field Machinery and Equipment Industry of U.S.A. (SIC code: 3533; equivalent NAICS code: 333132) Industry Description1: "Establishments primarily engag ...

1 do you think the bond issue will help saudi arabia move

1. Do you think the bond issue will help Saudi Arabia move away from dependence on oil revenue? Why or why not?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro