User Account

All Pages

Identify the control principle that you violated

Assignment Help Accounting Basics
Reference no: EM13877015

Your student club recently volunteered to go door- to- door collecting cash donations on behalf of a local charity. The charity's accountant went berserk when you said you wrote receipts only for donors who asked for one.

Required:

Identify the control principle that you violated and explain how that violation could allow fraud to occur. What controls might be appropriate to use in the future?

Reference no: EM13877015

Questions Cloud

Compute direct labor variances for managements consideration : Compute direct labor variances for management's consideration. Provide management with possible reasons for the variances.
Identify the internal control principle being applied : For each statement (a) and (g), identify the internal control principle being applied. After several months, LRC's supervisor is arrested for stealing nearly $ 10,000 from the company. Identify the internal control weakness that allowed this theft to..
Devise an estate plan for rich and ruby : Devise an estate plan for Rich and Ruby. The facts of the case and the clients' Statement of Financial Position should be reviewed in detail with particular attention to the titling and location of assets
How might each member affect innovation within organization : Based on your individual Creative Intelligence Profiles, how might each member affect innovation within the organization? Compare your responses with those of your team members and describe whether or not you agree with their responses. Explain whyo..
Identify the control principle that you violated : Identify the control principle that you violated and explain how that violation could allow fraud to occur. What controls might be appropriate to use in the future?
What is the rate of growth of cell phones : The number of cell phones (CP) in the United States has been growing according to the following model CPt = CP0(1 + g)t where g is the growth rate and CP0 is the number of cell phones (in thousands) in 1995
Compute standard direct labor wage rate per hour in january : Standard Labor Rate and Labor Efficiency Variance Elof 's direct labor costs for the month of January. Compute Standard direct labor wage rate per hour in January and Direct labor efficiency variance.
Prepare the journal entry of mountain air company : Prepare the journal entry, if any, Required on January 1. Prepare the journal entries, if any, Required on January 2 through 15. Prepare the journal entries, if any, Required on January 17.
Create journal entry for standard direct manufacturing cost : Create journal entries for the standard direct manufacturing cost for each unit is $32. During the month, 1,000 units were produced.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Invested for future scholarships

Assets that the governing board of a public university, rather than a donor or other outside agency, has determined are to be retained and invested for future scholarships would be reported as:

  Question-if the market rate of interest is 10 a rational

question-if the market rate of interest is 10 a rational person would just as soon receive 1100 three years from now as

  Issue of preferred stock

Which of the following shareholder rights is most commonly enhanced in an issue of preferred stock?

  Belgrade lakes properties is developing a golf course

belgrade lakes properties is developing a golf course subdivision that includes 225 home lots 100 lots are golf course

  Garcia corporation purchased a truck by issuing an 142400

garcia corporation purchased a truck by issuing an 142400 5-year zero-interest-bearing note to equinox inc. the market

  Purchased a copyright for a design for 15000 with a life

purchased a copyright for a design for 15000 with a life left on the copyright of 25 year. the estimated remaining

  Identify the budgetary accounts used in federal agency

Identify the budgetary accounts used in federal agency accounting and explain the sequential flow of budgetary authority through the accounts in your own words.

  The requirements for effectively liquidating a corporate

The requirements for effectively liquidating a corporate entity under Missouri state law. Using the internet as your sole research source, prepare a paper discussion (your opinion) on how an entity incorporated in Missouri state is liquidated,..

  Price manufacturing assigns overhead based on machine hours

price manufacturing assigns overhead based on machine hours. the milling department logs 1800 machine hours and cutting

  Allowance method used to account for bad debits

On Oct. 29 of the current year, a company concluded that a customer's $4,400 account receivable was uncollectible and that account should be written off. What efect will this write-off have on this company's net income and total assets assuming th..

  A company must incur annual fixed costs of 2000000 and

a company must incur annual fixed costs of 2000000 and variable costs of 300 per unit and estimates that it can sell

  John thomas has recently entered into an agreement with

john thomas has recently entered into an agreement with longma inc. under this agreement john will sell its products

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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