To Establish Effective Internal Control Over a Corporation's Stock Transactions,the

question 4

Essay

To establish effective internal control over a corporation's stock transactions,the corporation should utilize the services of a independent registrar and transfer agent.
a.Describe the functions performed by the stock registrar.
b.Describe the functions performed by the transfer agent.
c.Describe the information that is typically requested by the auditors in a confirmation sent to the registrar.

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Definitions:

Book Value

The value of an asset as recorded on the balance sheet, calculated as the cost of the asset minus accumulated depreciation.

Bond Liability

The amount owed by an entity to bondholders, including the principal and any unpaid interest.

Par

The nominal or face value of a bond, share, or other financial instrument, typically the value at which it is issued.

Bond Interest

The amount of interest paid by bond issuers to bondholders, typically expressed as an annual percentage of the bond's face value.