Proper Segregation of Duties Reduces the Opportunities to Allow Any

question 80

Multiple Choice

Proper segregation of duties reduces the opportunities to allow any employee to be in a position to both:

• A)Journalize cash receipts and disbursements and prepare the financial statements.
• B)Monitor internal controls and evaluate whether the controls are operating as intended.
• C)Adopt new accounting pronouncements and authorize the recording of transactions.
• D)Record and conceal fraudulent transactions in the normal course of assigned tasks.

Differentiate between seasonal effects and cyclical effects.

Calculate moving averages for a given data set.

Identify advantages and disadvantages of the moving average forecasting model.

Perform seasonally adjusted forecasting.