Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. segregation of duties means that within an entire

Segregation of duties means that within an entire function (such as the accounts payable process),...

90.2K

Verified Solution

Question

Accounting

image
image
Segregation of duties means that within an entire function (such as the accounts payable process), multiple employees should be assigned to the various steps within that function, O Accounting Department employees should be responsible for specific tasks, and the Internal Audit Department should be responsible for the periodic revi accounting department records and policies. employees should be required to clock in and out and the beginning and end of each workday, every task should have only one employee assigned to it, with one additional employee cross-trained on that task Selected accounts from the balance sheet of the Local Beach Brewery are below 12/31/21 12/31/20 Accounts $36,000 $20,000 Receivable Inventory $54,000 $36.000 Prepaid Expenses $13,000 $18,000 Accounts Payable $34,000 $14,000 "n addition, Local Beach had net income of $48.000 and depreciation expense of $8,000. Using the Indirect method, what are the cash flows provided by courting its during 2021? $39,000 $56,000 $53,000 $55,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students