1. The vice president of finance asks the accounts payable (AP) clerk to write a...
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The vice president of finance asks the accounts payable AP clerk to write a check in the name of the president for $ He and the president will sign the check two signatures needed on a check of this size He further instructs the AP clerk not to disclose this check to her immediate supervisor. What should the AP clerk do Should she prepare the check? Should she inform her immediate supervisor? Discuss with internal controls in mind. A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to plugmake an unsupported entry for the difference, record to Miscellaneous Expense, and simply move on Discuss the internal controls problem with this directive. The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not? c an economy will automatically move toward a point at which all of its resources are being used inefficiently. d if all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
The vice president of finance asks the accounts payable AP clerk to write a check in the name of the president for $ He and the president will sign the check two signatures needed on a check of this size He further instructs the AP clerk not to disclose this check to her immediate supervisor. What should the AP clerk do Should she prepare the check? Should she inform her immediate supervisor? Discuss with internal controls in mind.
A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to plugmake an unsupported entry for the difference, record to Miscellaneous Expense, and simply move on Discuss the internal controls problem with this directive.
The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not?
c
an economy will automatically move toward a point at which all of its resources are being used inefficiently.
d
if all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
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