Question

Is job or assignment rotation mandatory for employees who handle cash receipts and accounting duties?

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Internal Controls

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: On January 17, Papa’s Pizza signs a contract with Bug Zappers for exterminating services related to ...

A: Matching principle: According to this principle, the expense should be recognized when it is actuall...

Q: Computer equipment was acquired at the beginning of the year at a cost of $71,900. It had an estimat...

A: Depreciation is decrease in an asset's value may be caused by a number of other factors such as unfa...

Q: When making the determination of whether or not a selling price should be increased there are many d...

A: The enterprise has increased the selling price and wants to analyze the effects of this decision.

Q: Mcdonaugh Corporation issued $250,000 of 5%, 10-year bonds payable onJanuary 1, 2019. The market int...

A: Bonds Payable: Bonds payable is a liability account that contains the amount owed to bondholders by ...

Q: On December 31, Reggit Company held the following short-term investments in its portfolio of availab...

A: Investment: It is a financial term which refers to spend or deposit money to get the financial bene...

Q: calculate the following Apple Mark -up                               25% sales                      ...

A: Gross profit = Sales * Mark up = 50,000 * 25%  = $ 12,500

Q: Which duties should be separated in the payroll cycle?

A: Payroll System:   A payroll system is a system within an organization that is responsible for managi...

Q: Alexander Company purchased a piece of equipment for $12,000 and depreciated it for three years over...

A: Disposal of Assets: Disposal is an activity of selling the worn-out assets that is no longer in nee...

Q: Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $79,000 has...

A: Depreciation is the reduction in the value of an asset over time due to normal wear and tear, obsole...