You Are the New Manager of Marsdon Company

question 1

Essay

You are the new manager of Marsdon Company. The company distributes goods throughout the Rocky Mountain area. Customers are billed after the shipments are sent. Most customers pay within two weeks. You notice that one employee is responsible for opening all incoming payments, recording them in the accounting records, and depositing all receipts in the bank daily. When asked why this one person performed all of these duties, you were told that it was more efficient for one person to handle cash and to keep track of things. If any cash was missing, responsibility could be easily determined. Do you agree with this arrangement? If you were to make changes, what would you do, and why?

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Definitions:

Crackerjack

A brand of caramel-coated popcorn and peanuts, often associated with being a classic American snack.

Discouraged

Refers to individuals who are not actively seeking employment due to believing that there are no job opportunities available for them.

Unemployed

The condition of a person who is capable of working, actively seeking work, but unable to find any employment.

Degree of Inflation

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.