In the Following Situation,which Internal Control Procedure Needs Strengthening

question 87

Multiple Choice

In the following situation,which internal control procedure needs strengthening?
- Hofstra Services hired a new accountant to be responsible for the petty cash fund and the cash receipts.The newly hired employee has an accounting degree and a criminal record.

• A) Assignment of responsibilities
• B) Competent, reliable, and ethical personnel
• C) Separation of duties
• D) Documents

Investigate the influence of cognitive processes on motivation and learning.

Examine methods and techniques for modifying behaviors and habits.

Understand the concept of emotional intelligence and its application in interpersonal relationships.

Recognize and interpret nonverbal cues in communication.

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Definitions:

Stockholders' Equity

The residual interest in the assets of an entity that remains after deducting its liabilities, representing ownership interest in a company.

Dividends

Payments made by a corporation to its shareholder members, often derived from the company's profits.

Corporate Income

The total revenue of a corporation minus operating expenses, taxes, and interest.

Stockholders

Individuals or entities that own shares in a corporation, making them partial owners of the company.