Accounting Information Systems
11th Edition
ISBN: 9780357156032
Author: Ulric J. Gelinas; Richard B. Dull; Patrick Wheeler
Publisher: Cengage Limited
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Question
Chapter 8, Problem 2DQ
Summary Introduction
To determine: It is virtually impossible to execute segregation of duties in small companies with few workers. Do you agree with the statement? and discuss.
Introduction:
Segregation of duties
A proactive approach to prevent error by dividing the responsibilities in performing a task where a task is segregated into many segments.
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Assume you are the manager of this area in a small firm. What internal controls and segregation of duties
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this area? Find an example of a small company that has had issues in this area. Briefly recap the situation and
how it was resolved.
Any situation where a potential conflict can arise between the firm's owners and its managers is referred to as a(n):
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organisational problem.
compensation issue.
agency problem.
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control issue.
The reasons why a company might NOT engage in CSR iitiatives are because _______.
It is only for large multi-national organisations.
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Chapter 8 Solutions
Accounting Information Systems
Ch. 8 - What are the four major categories of pervasive...Ch. 8 - What are the differences among a pervasive control...Ch. 8 - Prob. 3RQCh. 8 - Describe some compensating controls that can be...Ch. 8 - What are policy controls plans? How do policies...Ch. 8 - Why should an organization conduct monitoring...Ch. 8 - Prob. 8RQCh. 8 - Prob. 10RQCh. 8 - What are the major elements of the strategic IT...Ch. 8 - Prob. 12RQ
Ch. 8 - Prob. 13RQCh. 8 - What are the four stages through which a program...Ch. 8 - What steps are commonly included in a business...Ch. 8 - Prob. 16RQCh. 8 - Prob. 17RQCh. 8 - Prob. 18RQCh. 8 - Prob. 19RQCh. 8 - Prob. 20RQCh. 8 - Prob. 21RQCh. 8 - Prob. 22RQCh. 8 - Prob. 23RQCh. 8 - Prob. 24RQCh. 8 - Prob. 25RQCh. 8 - Prob. 26RQCh. 8 - Prob. 27RQCh. 8 - Prob. 28RQCh. 8 - Prob. 29RQCh. 8 - Prob. 30RQCh. 8 - Prob. 31RQCh. 8 - Prob. 1DQCh. 8 - Prob. 2DQCh. 8 - No matter how sophisticated a system of internal...Ch. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - Prob. 7DQCh. 8 - Contracting for a hot site is too cost-prohibitive...Ch. 8 - Prob. 9DQCh. 8 - Prob. 10DQCh. 8 - Prob. 11DQCh. 8 - The following is a list of six control plans from...Ch. 8 - Prob. 2SPCh. 8 - Prob. 3SPCh. 8 - Prob. 2PCh. 8 - The following is a list of 13 control plans from...Ch. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Prob. 6PCh. 8 - Examine the last column in Table 8.2 (p. 280) for...
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Similar questions
- Segregation of duties means that a company assigns responsibilities so that Multiple Choice sufficient workers are available to cover all necessary jobs. responsibilities for related activities are assigned to two or more people. employees are restricted to jobs for which they have adequate training. workers are divided into those who make decisions and those who carry them out.arrow_forwardEven though technology has improved the internal control structure of a company, a supervisor cannot depend totally on technology. Discuss other internal controls a supervisor needs to implement to ensure a strong structure.arrow_forwardagency costs may occur if A. Managers make decisions for their own best interest B. Managers may not attempt to maximize the value of the firm to shareholders C. The board does not properly oversee the activities and decisions of managers D.all of the abovearrow_forward
- “Performance reports based on controllability are impossible. Nobody really controls anything in an organization!” Do you agree or disagree? Explain your answer.arrow_forwardWhich of the following is not a common feature of an internal control system? Multiple Choice Segregating duties Bonding employees Implementing the most effective marketing plan Performance evaluationarrow_forwardThe relatively low number of types of transactions incurred by small firms makes the segregation of duties impossible. True or Falsearrow_forward
- Which of the follow is an advantage of decentralization? Group of answer choices Decision made by one manager may have a negative impact on the performance of a manager of another department. Duplication of services since different departments use their own admin and support services. Departmental goals and the goals of the company not be congruent or aligned. Managers can make decisions quickly without having to wait for approval from upper management.arrow_forwardWhich of the following statement about management accounting information is incorrect? a. The benefits of providing the information should outweigh the costs. b. It is influenced by organisational structure and size. c. It is only prepared on an ad-hoc basis. d. It is used by senior managers.arrow_forwardArgentarrow_forward
- The internal control principle related to separating employees' duties so that the work of one person can be used to check the work of another person is called: Multiple Choice duplication of responsibility. independent internal verification. segregation of duties. rotation of duties.arrow_forwardWhich of the following is an advantage of decentralization? Group of answer choices Departmental managers who have expertise in specific product or service lines can make better decisions. Decisions made by one manager may have a negative impact on the performance of a manager of another department. Duplication of services since different departments use their own admin and support services. Departmental goals and the goals of the company may not be congruent or aligned.arrow_forwardWhy are companies divided into departments for the purpose of management control? Is it possible to evaluate a cost center's profitability? Explain.arrow_forward
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