Which of the following is an example of an operation deficiency in internal control?(1) The company does not have a code of conduct for employees to consider.(2) The cashier has online ability to post write-offs to accounts receivable accounts.(3) Clerks who conduct monthly reconciliation of intercompany accounts do notunderstand the nature of misstatements that could occur in those accounts.(4) Management does not have a process to identify and assess risks on a recurringbasis
Which of the following is an example of an operation deficiency in internal control?(1) The company does not have a code of conduct for employees to consider.(2) The cashier has online ability to post write-offs to accounts receivable accounts.(3) Clerks who conduct monthly reconciliation of intercompany accounts do notunderstand the nature of misstatements that could occur in those accounts.(4) Management does not have a process to identify and assess risks on a recurringbasis
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Which of the following is an example of an operation deficiency in internal control?
(1) The company does not have a code of conduct for employees to consider.
(2) The cashier has online ability to post write-offs to accounts receivable accounts.
(3) Clerks who conduct monthly reconciliation of intercompany accounts do not
understand the nature of misstatements that could occur in those accounts.
(4) Management does not have a process to identify and assess risks on a recurring
basis
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