For the following situation, state whether it represents a strength or weakness in internal control and give the reason for your answer
Baker Auto Supply purchases merchandise inventory from A & B Company
The accountant places the order, verifies receipt of the merchandise, and records the transaction in the general journal.
What will be an ideal response
Weakness
There is a weakness in the separation of duties. The employee who purchases the goods should not receive the goods. In addition, the person who records the transactions should not have custody of the goods. The accountant could steal some of the items and then show that the invoice should be paid in full.
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Deltona Motors just issued 230,000 zero-coupon bonds. These bonds mature in 18 years, have a par value of $1,000, and have a yield to maturity of 5.9 percent. What is the approximate total amount of money the company raised from issuing these bonds? Assume semiannual compounding.
A. $88.20 million B. $80.76 million C. $75.14 million D. $62.08 million E. $91.84 million
The ________ is a policy platform and practical framework for companies committed to sustainability and responsible business practices
It is the world's largest voluntary corporate citizenship initiative, representing thousands of businesses in more than 135 countries. A) Organization for Economic Cooperation and Development B) United Nations Global Compact C) International Economic Development Council D) Global Reporting Initiative