The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. An employee from the accounting department compares the control list and the cash register tapes with the bank deposit slip
a. Adheres to sound internal control procedures
b. Violates sound internal control procedures
c. Neither strengthens nor violates internal control
a
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Indicate whether the statement is true or false
The records of a department store show that 20% of its customers who make a purchase, return the merchandise in order to exchange it. In the next six purchases, a.what is the probability that three customers will return the merchandise for exchange?b.what is the probability that four customers will return the merchandise for exchange?c.what is the probability that none of the customers will return the merchandise for exchange?
What will be an ideal response?
Compensation surveys provide the data for translating a policy into pay levels, pay mix, and structures.
Answer the following statement true (T) or false (F)
Electronic communication encourages the random access of information
Indicate whether this statement is true or false.