80.2K

Verified Solution

Link Copied!

$2.$ A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to $$plug$($make an unsupported entry for$)$ the difference, record to Miscellaneous Expense, and simply $2.$ A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to $$plug$($make an unsupported entry for$)$ the difference, record to Miscellaneous Expense, and simply move on$.$ Discuss the internal controls problem with this directive.move on$.$ Discuss the internal controls problem with this directive.

$2.$ A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank reconciliation. Her supervisor told her to $$plug$($make an unsupported entry for$)$ the difference, record to Miscellaneous Expense, and simply move on$.$ Discuss the internal controls problem with this directive.

$3.$ 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.

Answer & Explanation Solved by verified expert

See Answer