User Account

All Pages

Which internal control activity was violated in order

Assignment Help Accounting Basics
Reference no: EM13878875

Fraud at Wooten city hall.

Required:
a. Which internal control activity was violated in order for Mr. Peterman to perpetrate this fraud?
b. Do you consider this case to be an example of management fraud or employee fraud?
c. Was the city procedural manual adequate for prescribing internal controls to prevent this type of fraud?
d. Why do you think no one reported the unusual mailroom practices of Mr. Peterman? To whom would such a violation be reported? Why or why not?
e. Do you think a business in Wooten could be guilty of customer fraud if it agreed to deliver its payments to Mr. Peterman personally rather than send them to the city mailing address?
f. The comments made by the neighbor CFO express which type of limitation of internal control systems discussed in this chapter?

Reference no: EM13878875

Questions Cloud

Determine the magnitude of tde : A farmer uses cables and winch pullers B and E to plumb one side of a small barn. Knowing that the sum of the moments about the x axis of the forces exerted by the cables on the barn at points A and D is equal to 4728 lb · ft, determine the magnit..
Was abt organized as a partnership or corporation : Was ABT organized as a partnership or corporation? Explain the basis for your answer. Did you include the transaction between the two stockholders event (c) in the spread-sheet? Why? As of January 31, has the financing for ABT's investment in assets ..
Describe any steps a company could take to prevent : Discuss whether the situation described can happen to a company with a good control environment. Describe any steps a company could take to prevent such abuse.
Control the speed of a drum : A differential band brake is used to control the speed of a drum. Determine the minimum value of the coefficient of static friction for which the brake is self-locking when the drum rotates counter clockwise.
Which internal control activity was violated in order : Which internal control activity was violated in order for Mr. Peterman to perpetrate this fraud?Do you consider this case to be an example of management fraud or employee fraud? Was the city procedural manual adequate for prescribing internal control..
Find the equilibrium price and quantity by hand : Consider the following inverse demand and supply functions for a market:qd = 50 - 5pd, qs = 20 + 10ps - Find the equilibrium price and quantity by hand
Evaluate various forms of health care fraud : Evaluate various forms of health care fraud
Established essential criteria for evaluating reliability : Established essential criteria for evaluating reliability of business systems Required auditors to focus on risks and controls and to conduct audits with skepticism.
Solve by hand for the equilibrium price and quantity : The market for avocados is depicted by the following market supply and demand functions:ps = 10 + 5qs, pd = 100 - 1qd - Solve this problem by hand for the equilibrium price and quantity.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explain how these costs are associated with the manufactured

You were introduced to three types of costs associated with a manufactured product - direct materials, direct labor, and manufacturing overhead

  Love theatre inc owns and operates movie theaters

love theatre inc. owns and operates movie theaters throughout new mexico and utah. love theatre has declared the

  How many units must be sold each month to make a monthly

novelties inc. produces and sells highly faddish products directed toward the preteen market. a new product has come

  Mainline sports has just acquired a new business van at a

mainline sports has just acquired a new business van at a cashprice of 70000. unfortunately mainline only had

  Prepare the income statement for the period

Prepare the Income Statement for the period ending December 31, 20##.

  Accounts and financial statements of recording

A business issued a 60-day, 7% note for $15,000 to a creditor on account. Illustrate the effects on the accounts and financial statements of recording

  In evaluating the sample results smith determined that the

smith cpa was engaged to audit golf corporations financial statements for the years ended august 2006. smith planned

  Type of income formats

What irregular items did pepsi and coke report on their income statements over the years 2005-2007. What type of income formats does pepsi and coke use and what are the difference between them?

  Develop a fiscal plan for the organization

You have been hired as an executive director of a small nonprofit organization. Among your many duties are to determine an annual budget and develop a fiscal plan for the organization.

  Approximation of a normal distribution

A new extended-life light bulb has an average service life of 743 hours, with a standard deviation of 49 hours. If the service life of these light bulbs approximates a normal distribution, about what percent of the distribution will be between 645..

  A new customer orders a single item which obviously can be

rand company sells fine collectible statues and has implemented activity-based costing. costs in the shipping

  Performance products corporation makes two products

performance products corporation makes two products titanium rims and posts. data regarding the two products follow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd