G If duties are properly segregated, the authorization function is performed by, the recordingfunction is performed by, and cash processing is performed by the 1) accounts payable;purchasing; cashier 2) purchasing; accounts payable; cashier 3) purchasing; cashier;accounts payable 4) purchasing; accounts payable; treasurer

The question is related to the segregation of duties within an organization's internal control…

Answered: If duties are properly segregated, the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…
A.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.
PP.71 A small manufacturer of specialty welding equipment has developed a combination production plan for the next four quarters, as seen below. Supply/Demand Info Pre-Q1 Q1 4,620 4,620 Forecast (demand) Regular production Subcontract production Ending inventory Hired employees Fired employees Total employees 42 42 Q2 Q3 Q4 4,730 5,390 5,170 5.080 5.060 5.080 330 4 46 The table below shows additional relevant information: Capacity Information & Cost Variables Production rate (units/employee/quarter) Subcontractor capacity (units/quarter) Regular production cost/unit Holding cost'unit/quarter Hiring cost/employee Firing cost/employee Subcontract cost/unit 110 480 $85 $13 $820 $2,150 $119 110 110 46 46 What is the overall total cost for this production plan? (Display your answer to the nearest whole number.) Number What is the total subcontract cost for this production plan? (Display your answer to the nearest whole number.) Number What is the total holding cost for this production plan?…
Ch. 12 Q9

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