Match Each of the Following Items with the Appropriate Internal

question 42

Essay

Match each of the following items with the appropriate internal control principle(s).(a)Establish responsibility.(b)Maintain adequate records.(c)Insure assets and bond employees.(d)Separate recordkeeping from custody of assetsDivide responsibility for related transactions.(f)Apply technological controls.(g)Perform regular and independent reviews._____ (1)The cashier does not have access to the cash register record tape and file.:_____ (2)Z-Mart uses a voucher system._____ (3)Two clerks share the same cash drawer._____ (4)The bookkeeper prepares and signs cheques._____ (5)Z-Mart uses a computerized point of sale system._____ (6)Z-Mart hires Nelson and McGuire, CAs, to perform an audit._____ (7)Z-Mart buys an insurance policy to protect against employee theft._____ (8)Z-Mart has separate departments for purchasing, receiving, and accounts payable._____ (9)Z-Mart has an internal auditor on staff._____ (10)Z-Mart uses a cheque protector.

Identify patterns and predictors of physical growth during middle childhood.

Recognize the maturational changes in the brain during school-age years.

Acknowledge the impact of lifestyle on childhood obesity and related health risks.

Understand the implications of changes in gray matter density on cognitive and physical development.

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Definitions:

Mixed Cost

A cost that contains both variable and fixed cost elements, making its total expense vary with changes in the level of output.

Fixed Cost

Expenses that do not fluctuate with changes in production volume, staying constant even as production levels vary.

Liability Insurance

A type of insurance that protects an individual or business from the risk of being sued and held legally liable for something such as malpractice, injury, or negligence.

Step-Variable Cost

A cost that remains fixed for a certain level of production or activity, but jumps to a higher amount once a certain threshold is exceeded.