An Example of a Transposition Is

question 71

Multiple Choice

An example of a transposition is

• A) presenting the cash account at $1,500 instead of $15,000.
• B) presenting prepaid insurance at $920 instead of $290.
• C) incorrectly posting a credit amount as a debit amount in the general ledger.
• D) not journalizing a sales transaction at all.

Appreciate the objectives of a system of internal control, including the safeguarding of assets.

Understand the importance of maintaining multiple bank accounts for efficiency and better control over cash.

Grasp why systems of internal control are necessary for companies of all sizes.

Recognize the importance of employee vacations as a strength in the system of internal controls for promoting operational efficiency.

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Definitions:

Earth's Orbit

The path that the Earth follows around the Sun, which is elliptical in shape and takes approximately 365.25 days to complete one full cycle.

Year-round

Occurring, effective, employed, staying, or open all year; not restricted to or by particular seasons.

Rock Cycle

A conceptual framework presenting possible paths and processes to which a rock can be subjected as it moves from one place to another and between different depths within Earth.

James Hutton

Often considered the father of modern geology, he theorized that the Earth was shaped by ongoing processes over a vast expanse of time.