Which situation indicates an internal control risk in the General Ledger/Financial Reporting Systems (GL/FRS)?
a. the employee who maintains the cash journal computes depreciation expense
b. the cash receipts journal voucher is approved by the Treasurer
c. the cash receipts journal vouchers are prenumbered and stored in a locked safe
d. the employee who maintains the cash receipts journal records transactions in the accounts receivable subsidiary ledger
D
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Zoe Dental Implements has gross property, plant and equipment totaling $1.4 million, depreciation expense this year of $200,000, and accumulated depreciation of $750,000. What is the book value of Zoe's property, plant and equipment?
A) $1.4 million B) $1.2 million C) $550,000 D) $650,000
Systems techniques may be used to
A) assist in designing computer programs. B) give an overall picture of transaction processing in the organization. C) assist a systems analyst in organizing facts about a system. D) All of these answers are correct.