Explain reason for any two of the seven internal control

Assignment Help Financial Accounting

Reference no: EM13136493

Internal Controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the seven internal control procedures and (2) provide examples of how your two selected internal control procedures will meet the goal of safeguarding assets and promoting ethical business practices.

Reference no: EM13136493

Questions Cloud

Determine the tax consequences to gamma-marsha : On January 2 of the current year, Gamma liquidates and distributes all property to Marsha except that Gamma retains cash to pay the accounts payable and any tax liability resulting from Gamma's liquidation. Assume that Gamma has no other taxable i..

Calculate the energy of a photon : Calculate the energy of a photon of wavelength 11.56 meters. (Planck's constant is 6.626 x 10-34 joule seconds; the speed of light is 2.998 x 108 m/s)

Explain how the accounting equation is impacted : Name the accounts impacted and how using the format account name/debit or credit/dollar amount and (2) explain how the Accounting Equation is impacted.

Determine the cost of the finished goods inventory reported : At the end of the first year of operations, 7,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows.

Explain reason for any two of the seven internal control : explain the reason for any two of the seven internal control procedures and (2) provide examples of how your two selected internal control procedures will meet the goal of safeguarding assets and promoting ethical business practices.

Find probability of judging the coin to be biases : A coin is tossed 25 times. let x + the number of tosses that result in heads(H) Consider the following rule for deciding whether or not the coin is fair. What is the probability of judging the coin to be biases when its actually fair?

What is the observed atomic weight of lithium : Natural lithium is 92.58% lithium-7, with atomic weight 7.016, and 7.42% lithium-6, with atomic weight 6.015. What is the observed atomic weight of lithium as it occurs in nature?

Find probability that person will be last to leave bank : Customers are independent, identical, exponential distrubution of service time. What is the probability that the person will be the last to leave the bank assuming that no other customers arrive?

Includible in gross income by checking the boxes : Sandy and Louis Roman filed a joint income tax return for 2010. For each of the items or events listed below, indicate which are includible in gross income by checking the boxes next to those that are includible.

User Account

All Pages