Which, if any,of the followingsituations represent improper segregationof functions? Explain your answer

Q: Which of the following is NOT an issue with the Bradmark internal controls as it pertains to the…

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Q: ales representative mistakenly entered a nonexistent account number into the system. As a result,…

A: The right answer is D. Validity check

Q: .   c.   completeness of receivables.   d.  collectibility of the invoices.

A: The four qualities of a confirmation are as follows: Receipt. Responses can be written or spoken.…

Q: up of answer choices a.The personnel in the receiving department should be separated from the…

A: the purchase you also known as account payable system and the cash disbursement cycle execute the…

Q: Consider the following information items as you respond to the question: i. Customer master file…

A: The five basic elements of AIS system are: 1. Output 2. Input 3. Storage 4. Internal control 5.…

Q: Which of the following is not an appropriate internal control for cash receipts over the​ counter?…

A: Solution: Followings are appropriate internal control for cash receipts over the​ counter: 1. The…

Q: A characteristic that all entries recorded in a cash receipts journal have in common is Select one:…

A: Correct option is C i.e.  a debit to the cash account

Q: Which of the following controls would best prevent the lapping of accounts receivable?a. Segregate…

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: Which of the following scenarios reduces the risk of an employee fraud? Group of answer choices An…

A: Accountant was in charge and knowledge of vendor balances. Hence, chances for fraud in the form of…

Q: a) Should every company switch from the traditional three-way matching process (purchase orders,…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Determine whether each cash receipts procedure is an internal control strength or weakness. 1. If a…

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: Choose only one answer as well as state their reasons/rationale for the answer chosen. 10) An…

A: Record count is the count of the total number of records of a batch. here there will be a count of…

Q: Which of the following is not a true statement about the daily posting of the sales journal?…

A: Sales Journal: Sales journal is one form of special journal book, which records all the sales…

Q: Items 1 through 10 present various internal controlstrengths or internal control deficiencies.1.…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Please prepare excel flowchart. Kreton Corporation, your new audit client, processes its sales and…

A: Part 2: Explanation1. Sales Process:  - Sales are initiated by salesclerks who prepare sales…

Q: Which of the following is an internal control guideline for better management of cash receipts?…

A: generally, there must be segregation of duties as part of the internal control system. work done by…

Q: Choose only one answer as well as state their reasons/rationale for the answer chosen. A customer…

A: Closed loop verification :             It can be said as closed loop authentication and can be…

Q: Which of the following manipulations would understate accounts payable on the financial statements?…

A: Account payable  means the amount owed by business to outsider for the goods received and services…

Q: ich of the following controls is most likely to help ensure that all credit revenue transactions of…

A: The control that is most likely to help ensure that all credit revenue transactions of an entity are…

Q: All of the following are controls for cash received over the counter excepta. a printed receipt must…

A: Correct option to the above question is d. The sales clerk must have access to the cash register…

Q: Which of the following controls most likely would assure that all billed sales are correctly posted…

A: The correct answer is: (B) Daily sales summaries are compared to daily postings to the accounts…

Q: The following control procedures are used in Kelton Company for over-the-counter cash receipts. (a)…

A: Answer:-  Internal control meaning:- Internal controls are procedures used by the business to…

Q: Determine whether each cash receipts procedure is an internal control strength or weakness. Cash…

A: It is a process implemented by organizations to provide reasonable assurance of achieving their…

Q: The following are a list of possible errors or fraud (1 through 5) involving cash receipts and…

A: Internal Control: Internal controls are a set of procedures, mechanisms, and rules that ensure that…

Q: Each situation below describes an internal control weakness in the cash payments process.…

A:

Q: 4. The customer checks accompanied by the control tape (refer to symbol A) would be: a. forwarded…

A: Cash Receipt: Most of the time, the cash sale statement shows that the customer paid for something…

Q: nvoices, and the AR department posts to the customers’ accounts. B The sales department approves…

A:

Q: Precision Industries, Inc., is a manufacturer of electronic components. When a purchase order is…

A:

Q: Required: Which internal control(s) would you recommend to prevent the following situations from…

A: Answer:- Internal control meaning:- Internal control encompasses the policies, procedures, and…

Q: When a customer returns a product to Hartville Equipment that the customer purchasedon account,…

A: When a customer returns a product to Hartville Equipment that the customer purchased on account,…

Q: A serious exposure in the revenue cycle is customer dissatisfaction. What is the related threat and…

A: In this question we tell about a serious exposure in the revenue cycle is customer…

Q: Tracing copies of computer-prepared sales invoices to copies of the corresponding computer-prepared…

A: Shipping documents contained the number of units shipped, sales invoice contain the number of units…