Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 2 for each of the following lapses in con

Question 2 For each of the following lapses in control, explain why they would pose...

80.2K

Verified Solution

Question

Accounting

Question 2 For each of the following lapses in control, explain why they would pose a risk for an organisation and suggest a control that could be used to reduce it:

(a) Entering negative values for order quantity in a sales order (b) Selling to a customer with an overdue account (c) Ordering from a non-existent supplier (d) Paying for goods that have not been received (e) Entering an alphanumeric customer ID when the business policy is for numeric customer IDs (f) Misappropriation of goods by receiving staff, who also maintain inventory records (g) Ordering too much of a product

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Treponema pallidum the bacterial species that causes syphilis grows extremely slowly with a doubling time...

Biology
Q

Which of the following atomic equations are accurate? (select all that apply)A=X+NN=Z-AA = Z+NZ =...

Physics
Q

gonometry Spring 2023 Sp23 MATH 1106 90 Tri 5 1 Points DETAILS Sketch the curve...

Basic Math
Q

rectangle has width x 1 length Vx 1 and diagonal 6 extraneous roots Solve for...

Basic Math
Q

y 8 6 75 2 3 Which equation best represents the data shown in the...

Algebra
Q

Coughlan has developed plans to expand into the wholesale flower market and is in the...

Accounting
Q

The following information pertains to JAE Corp. at January 1, 2018: Common stock,...

Accounting
Q

annual shortfall of income afyer retirement is $24719expected years in retirement. 30 expected annual rate...

Accounting
Q

On January 1, 2021, Martinez City purchased office supplies for $60,000. During the year, $52,000...

Accounting
Q

Andretti Company has a single product called a Dak. The company normally produces and sells...

Accounting
Q

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and...

Accounting
Q

You just won a contest. The prize is a lump sum payment of $75,037, however,...

Finance