Question

Why should the person responsible for shipping goods to customers not also have the responsibility for...

Why should the person responsible for shipping goods to customers not also have the responsibility for maintaining records of customer accounts?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Solution:

To establish prevention control in an organization duties of segregated among different employees to reduce risk of error and fraud. In view of the same duties related to shipping goods to customer and responsiblity to maintain customer records are given to different person. Generally store incharge is responsbile for shipping goods to customer and account incharge is responsible for maintaining records of customer accounts.

The duties are segregated, becuase in case both work is assigned to store incharge then he may do some favor to a particular customer by shipping goods to particulars customer and record it in account of different customer.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jane Smith handles cash receipts from customers. She also has responsibility for issuing credit memos and...
Jane Smith handles cash receipts from customers. She also has responsibility for issuing credit memos and writing off uncollectible accounts. Additionally, she is responsible for maintaining the A/R records. When customers make payments, Jane occasionally issues a credit memo and steals the cash. This fraud can be discovered if an employee other than Jane: Select one: A. Reconciles the bank statement to the accounting records. B. Reconciles the A/R subsidiary ledger to the A/R controlling account. C. Investigates weekly all...
Sellers negotiate sales contracts with customers. (a) What type of shipping terms should a seller attempt...
Sellers negotiate sales contracts with customers. (a) What type of shipping terms should a seller attempt to negotiate to minimize freight costs? (b) Why would a company's manager be concerned about the quantity of its purchase returns if its suppliers allow unlimited returns?
Customer Service Discussion Effective Communication We have seen an increase in communicating with customers through social...
Customer Service Discussion Effective Communication We have seen an increase in communicating with customers through social media or some other technology. Why is person-to-person communication (face-to-face) still important for delivering quality customer service?
When entering customer master data into the SAP system there should be segregation of duties. Which...
When entering customer master data into the SAP system there should be segregation of duties. Which activity should the sales staff not be allowed to enter? a. Customer name and address b. Customer credit limit and bank account information c. Customer shipping information d. Customer contact information, such as telephone numbers and email addresses. e. None of the above (i.e. sales staff should enter all of the above information) In SAP when you post goods issue, what event has happened?...
Why should countries who have an absolute advantage in producing goods and services still engage in...
Why should countries who have an absolute advantage in producing goods and services still engage in international trade?
State three types of differences that might be observed in the confirmation of accounts receivable that...
State three types of differences that might be observed in the confirmation of accounts receivable that do not constitute misstatements. For? each, state an audit procedure that will verify the difference. A. Merchandise shipped by the client has not been received by the customer at the confirmation date. The shipping documents should be examined to verify that the goods were shipped prior to confirmation date. B. Merchandise has been? returned, but has not been received by the client at the...
51. An employee in the accounts payable will record the purchase and produce a voucher when...
51. An employee in the accounts payable will record the purchase and produce a voucher when Select one: a. an invoice is received. b. inventories are received. c. an invoice is successfully matched with a purchase order. d. none of the above. 52. An example of poor internal control is Select one: a. The accountant should not have physical custody of the asset nor access to it. b. The custodian of an asset should not maintain or have access to...
1. Why do companies have internal controls? Are internal controls just for large corporations, or should...
1. Why do companies have internal controls? Are internal controls just for large corporations, or should small businesses also have controls? 2. Why is it that the allowance method is used for financial statements instead of the direct writeoff method? Why are estimates allowed in accounting, such as required to do the allowance method?
1. Gore Inc. sold $7,200 of merchandise on account, terms 2/10,n/30. If the customer paid the...
1. Gore Inc. sold $7,200 of merchandise on account, terms 2/10,n/30. If the customer paid the amount owed within the discount period, the entry to record the receipt of cash would include a: debit to cash of $7,200 debit to sales discount of $144 credit to accounts receivable of $144 credit to accounts payable of $7,056       2.   Cost of goods sold:             A) Is another term for sales.             B)   Is the term used for the cost of buying...
Analysis: This section should include the issue register as a bare minimum, but may include also...
Analysis: This section should include the issue register as a bare minimum, but may include also why-why diagrams, a Pareto chart, a waste table and/or value-added analysis table. Flow analysis or simulation of this case study might be possible but might require making a lot of assumptions given the provided data. The first part of the project: Introduction    Walmart has continued to retain the top position on the Fortune 500 list for a consecutive fifth year. The brand has...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT