One of your friends is preparing to open a store that will sell outdoor gear. When you heard that the business would have three or four employees, you told your friend that she would need to pay careful attention to segregation of duties. She has asked you to explain what duties should be separated and why segregation of duties is important in a business. Write a note to your friend explaining these issues.
What will be an ideal response?
The likelihood of fraud or theft is reduced if employees must work together to accomplish it.
Clear segregation of duties is frequently used as a deterrent to corruption. When duties are
segregated, the work of one employee can act as a check on the work of another employee. Whenever possible, the functions of authorization, recording, and custody of assets should be performed by separate individuals. However, no internal control system is foolproof. Internal controls can be circumvented by collusion among employees. That is, two or more employees working together can hide embezzlement by covering for each other.
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Bruce Corporation makes four products in a single facility. These products have the following unit product costs: Products ABCDDirect materials$19.90$15.20$20.80$23.20Direct labor 12.20 8.70 10.50 7.40Variable manufacturing overhead 1.60 2.10 2.00 2.10Fixed manufacturing overhead? 10.80? 11.90? 8.80? 10.70Unit product cost$44.50$37.90$42.10$43.40Additional data concerning these products are listed below. Products ABCDGrinding minutes per unit 1.20 0.70 0.60 0.60Selling price per unit$59.30$51.70$59.50$55.60Variable selling cost per unit$3.60$1.50$2.20$3.60Monthly demand in units 4,000 2,000 4,000 2,000The grinding machines are potentially the constraint in the production facility. A total of 9,000 minutes are available per month on these machines.Direct
labor is a variable cost in this company.Which product makes the MOST profitable use of the grinding machines? (Round your intermediate calculations to 2 decimal places.) A. Product A B. Product B C. Product C D. Product D
How difficult should the goals be?
a. Difficult goals yield higher output than easy to moderate goals b. Studies have shown that performance decreases when goals are set too high c. Studies have shown that easy to moderately difficult goals boost acceptance and therefore get the best results d. Both “a” and “b”
The disposal of nonhazardous solid waste is
A. generally regulated by state law, but the federal government sets guidelines that must be followed. B. the only area of environmental concern that has yet to be regulated by federal action. C. completely governed by federal administrative law. D. currently the subject of great debate since the federal government has declared such activity falls under the Endangered Species Act and, therefore, a small annoying fly known to frequent landfills must be protected.
________ allows you to communicate with avatars using text messaging
A) A virtual world B) Screen sharing C) Collaborative writing D) A large audience Webinar E) Telepresence