Ideal system of internal controls

Assignment Help Accounting Basics
Reference no: EM13151907

Management is often unwilling to implement an ideal system of internal controls because

a) Control failures are infequent

b) Such system is too expensive

c) Suffeciant tech. doesn't exist to afford ideal system

d) Risk often overstated

Reference no: EM13151907

Questions Cloud

How many molecules of hcl will we form : If we react 116 molecules of TiCl4 with water according to the equation  TiCl4 + 2 H2O -> TiO2 + 4 HCl how many molecules of HCl will we form?
How do such policies impact product price and industry : How do such policies impact product price and industry output and employment? Are these kinds of policies easy to implement in practice? How has globalization of production affected our ability to control pollution?
Which mutual fund to choose to invest the money : You can invest the money in one of two mutual funds with similar yearly average returns (9.8% vs. 9.9%). Which mutual fund would you choose?
How many molecules of co are present : the concentration of carbon monoxide in a sample of air is 9.2 ppm. there are how many molecules of CO are in 1 liter of 755 torr and 23 degrees celcius
Ideal system of internal controls : Management is often unwilling to implement an ideal system of internal controls because
Calculate the price elasticity of demand in summer : Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.
How important is the existence of a significant barrier : How important is the existence of a significant barrier to entry to maintaining a monopoly? What would be the result if a monopoly market could be easily entered?
Companies refused to follow the increase : When other companies refused to follow the increase, American Airlines made an attempt to gain customers in the competitors' markets by applying aggressive discounts on the tariffs.
Muriel taxable income problem : Muriel, age 70 and single, is claimed as a dependent on her daughter's tax return. During 2009, she had interest income of $2,400 and $800 of earned income from babysitting. Muriel's taxable income is what?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Classification of activities

complete the following 5 exercises below in either Excel or a word document (but must be single document).

  Which method is generally accepted

Which method is generally accepted? Why do you think this method is generally accepted? Explain your position.

  Determining expected cost savings

Spotech Co.'s budgeted sales and budgeted cost of sales for the coming year are $212,000,000 and $132,500,000, respectively. Short-term interest rates are expected to average 5%. If Spotech could increase inventory turnover from its current 8.0 ti..

  Direct method to allocate support costs

Use the direct method to allocate support costs to each of the two principal operating departments, Engineering and Computer Sciences. Prepare a schedule showing the support costs allocated to each department.

  Should hamilton follow his boss directive

The Dotson Company, owner of Bleacher Mall, charges Rich Clothing Store a rental fee of $600 per month plus 5% of yearly profits over $500,000. Matt Rich, the owner of the store, directs his accountant, Ron Hamilton, to increase the estimate of ba..

  Attached is an inventory cost test.

Attached is an Inventory cost test.

  Advantage of the discount

What is the amount of the discount, and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?

  Problem related to financial adviser of school district

Second Baptist would start a church school; and Baker would open a car dealership. If you are the financial adviser for the school district, which offer would you prefer? Why?

  Statement about tax-exempt organizations

Which of the following is a not true statement about tax-exempt organizations?

  Condemnation award gains-replacement real property

William Stevenson sold his warehouse to a public utility for $24,000 under a threat of condemnation. He paid $25000 for the property and spent an addition $1000 for a new roof. He had claimed $3600 depreciation in conjunction with the condemnation..

  Cost-volume-profit problem

Canyon Escape sells individual tickets for $75 for walking tours of the Grand Canyon. Unit-level cost, including lunch, are $15 per ticket; fixed cost total $200,000 per year

  Example formula of total revenue

Show a example formula of total revenue of 800,000, expense of 200,000 for tax purposes, and depreciation expense of 130,000 for reporting purposes, the tax rate is 34 percent.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd