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Introduction: Internal controls are the mechanism through which the operating activities of a company are stratified with the intent of protecting assets, reducing errors and making sure that activities are carried in accordance with the policies framed.
To Explain: Seven Principles of Internal Control and explanation on how a retail outlet might implement each one of the principles.
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Introduction: Internal controls are the mechanism through which the operating activities of a company are stratified with the intent of protecting assets, reducing errors and making sure that activities are carried in accordance with the policies framed.
To Explain: Need to add control to the business as it expands.
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Chapter 6 Solutions
Connect Access Card for Financial Accounting: Information and Decisions
- For each of the following companies, determine what they primarily sell and whether their e-commerce strategy is primarily business-to-consumer (B2C), business-to-business (B2B), or both. Use the Internet to investigate each companys site in conducting your research. a. Amazon.com b. Dell Inc. c. DuPont d. Intuit Inc. e. L.L. Bean, Inc. f. W.W. Grainger, Inc.arrow_forwardSetting up and running an Online business is one of the best ways to avoidproblems associated with pandemics and global trade restrictions. Do you agree or disagree with this statement ? Discuss with the use of current affairs and examples of real businesses.arrow_forwardA fairly recent technology-related tool that many companies use to solicit feedback from customers about the company’s existing or upcoming products is a. market segmenting. b. customer relationship management. c. consumer buying behavior. d. sales forecasts. e. social media.arrow_forward
- When a firm reaches out to a consumer through various digital methods such as email, mobile, and social media, they are utilizing what? Select one: a. Firm promotions b. Brand building blocks c. Consumer touchpoints d. Digital brand mediaarrow_forwardDiscuss some of the security issues related to e-business and recommend control activities. Why should the product and financial stability of the companies that are on your short list pf AIS be investigated?arrow_forwardIdentify 2 advantages and 2 disadvantages for each for the measures below implemented by the retailers during the outbreak of covid-19. i. Live streaming can help retailers facilitate a “see now, buy now” culture, which enables them to instantly inform consumers about their products and create an urge to purchase. ii. improvement of online ordering and delivery services.arrow_forward
- nee You must negotiate virtually with a vendor in another country. The client relationship is sensitive and important to your company. Which of the following represents the best way to proceed? a) Use email to ensure complete understanding and to create a record of your conversation. b) Use a speakerphone to hear as much background conversation as possible. c) Conduct a video conversation with as many people as possible. d) Conduct a video conversation with a screen as large as possible.'arrow_forwardThe Progressive Company is considering taking customers' orders on its Web site. a. What information would Progressive collect from the customer during this process? Be specific. b. What information would need to come from Progressive's Web site and back-end systems to complete the order? c. How would an enterprise system facilitate this type of information? Be specific.arrow_forwardCritically explain why online purchase is not safe for the customer. What step do you take to check and the security of the site and the legitimacy of the companies from whom you make a purchase online?arrow_forward
- Apple is considering expanding a store. Identify three methods management can use to evaluate whether to expand.arrow_forwardImagine that you have started up your own business. How can the internet help you expand the business? What would be the pros and cons of doing business internationally?arrow_forwardWhen you're writing a business message, use headings and subheadings to Select one: a. all of the above. b. indicate shifts from one idea to the next. c. capture the attention of your readers. d. reveal how your document is organised. During the revision process, how should you treat the most important ideas in a message? Select one: a. Prioritise ideas based on corporate norms b. Do a second pass at the outline to make sure you hit all the key points c. Use bold and italics generously to highlight important ideas d. Make sure they get the most attention in the document and are in the most prominent positions e. Verify your research Which of these is an important goal when you are evaluating the content of a message? Select one: a. Making sure all ideas get the same amount of space b. Verifying that the message is long enough for corporate guidelines c. Verifying that it's easy to identify sources of information d. Ensuring a good balance of general and specific…arrow_forward
- Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE LFinancial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
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