User Account

All Pages

Which is not a benefit of a sound system of internal control

Assignment Help Financial Accounting
Reference no: EM132992626

Problem 1: Which of the following is not a benefit of a sound system of internal control?

a) Greater reliability of the accounting information

b) Less errors

c) A highly marketable product

d) Reduced likelihood of fraud

Reference no: EM132992626

Questions Cloud

Which post in accounting means to the cop of the information : Which post in accounting means to the cop of the information changes from the? Journal, place in the ledger, and the delete it from the journal
Which primary objective of financial reporting is to assist : Which primary objective of financial reporting is to assist? Suppliers in determining an appropriate discount to offer a particular company
Which statements is incorrect concerning the equity method : Which statements is incorrect concerning the equity method? The investor's share of the profit or loss of the investee is recognized in the investor's profit
Describe what are included in such costs : Describe what are included in such costs. Pursuant to NZ IAS 16, if an item of Property, Plant and Equipment qualifies as an asset it must be recognised initial
Which is not a benefit of a sound system of internal control : Which is not a benefit of a sound system of internal control? Greater reliability of the accounting information./ A highly marketable product
Create and complete the amortization : Calculate the amount of the annual payment? (b) Create and complete the amortization and Calculate the projected dividend for the coming year?
Solve the depreciation cost for financial year ending june : On 31 August 2022, the roof of the building was blown away and a replacement, Solve the depreciation cost for the financial year ending 30 June 2022.
Calculate the depreciation cost for the financial year : Dunbars Ltd purchased land for $1 100 000 for the purpose. Calculate the depreciation cost for the financial year ending 30 June 2023.
Solve depreciation expense for the delivery truck for years : Solve the depreciation expense for the delivery truck for the years ending 30 June 2020, 2021 and 2022, using the straight-line method.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Designed the code to include various deductions from income

This semester, we learned that Congress designed the Code to include various deductions from income. (NOTE: We are not discussing the deductions that may arise from losses.) There are two deductions that are particularly important to corporations:

  Provide journal entries to record the transactions

Provide journal entries to record the transactions during 2018 for the three assets. Show all work and supporting calculations to support your journal entries

  Compute the total cost of this job and the unit product cost

Customer Job Smith02 was recently completed by ABC Company. The following data were included on its job cost sheet: Compute the total cost of this job and the unit product cost (cost per unit) for this job. You must break this down between direct mat..

  The intercompany sale of inventory and equipment

On January 1, 2016, Parent Company acquired 80% of the common stock of Subsidiary Company. Prepare the worksheet eliminations that would be made on the 2016 consolidated worksheet as a result of: the intercompany sale of inventory. the intercompany s..

  Calculate the amount of fica taxes owed

Calculate the amount of FICA taxes owed (assuming no employee's salary is over the FICA limit) and prepare the journal entry to accrue this week's salaries

  What was the depreciation for the first year

What was the depreciation for the first year? The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years

  Estimate Expo cost of equity using the CAPM

Expo has a beta of 1.8. The Treasury bond yield is 3% and the return on the S&P 500 is 10%. Estimate Expo's cost of equity using the CAPM

  Ignoring tax considerations-assuming relevant interest rate

Under the terms of his salary agreement, Michael B has an option of receiving either an immediate bonus of $66,000, or a deferred bonus of $84,000 payable in 10 years. Ignoring tax considerations and assuming a relevant interest rate of 4%, which for..

  What annual contribution to a savings fund

What annual contribution would you, as the prudent financial advisor, recommend if the company can earn an 7% return on investment?

  Find degree of operating leverage for level of production

Find the degree of operating leverage for the level of production and sales 328 swim trunks. Round the answer to two decimal places.

  Compute net income for 2012

Presented below are selected ledger accounts of McGraw Corporation as of December 31, 2012.

  Prepare loan amortization chart

Prepare loan amortization chart. Mr. A has taken a loan of Rs. 1,00,000. This loan is to be repaid in equal instalments of Rs. 20,000

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