Chapter 6-10 Homework
Corinne Judd Chapters 6, 7, 8, 9, 10 homework
Chapter 6
Problem 4 1. a 2. o 3. r 4. u 5. t 6. c 7. l 8. s 9. m 10. q 11. n 12. j 13. e 14. h 15. i 16. k 17. f
Problem 5 1. i 2. k 3. f 4. m 5. a 6. j 7. d 8. b 9. h 10. c
Chapter 7
Problem 6 1. Bank deposits are taking place before cash receipts have been counted. a. Reconcile bank deposits and cash receipts by two separate employess.
2. Possible collusion between employees and customers. b. Require approval by second employee or supervisor.
3. Unauthorized access to physical inventory. c. Revise physical inventory procedures so there is limited access to the physical inventory.
4. Unauthorized access to inventory records, d. Safeguard perpetual inventory records so that access is limited to adjustment approval by responsible official.
5. Collusion between two employees or employees and customers. e. Segregate duties so only responsible official authorize refunds or credits.
6. Misnumbering of documents or failure to us accurate filing system f. Use prenumbered documents.
7. Unauthorized discounts or credits to customers. g. Require approval by a responsible party for discounts and credits.
8. Misunderstanding of or failure to comply with written procedures h. Create or update written procedures and require employee familiarization.
Chapter 8
Problem 1 1. d 2. s 3. b 4. m 5. f 6. t 7. o 8. j 9. k 10. n 11. l 12. a 13. u 14. i 15. q 16. g 17. p 18. e 19. r 20. v
Problem 4 a. Encrypt data stored on company laptops. b. Enforce strong password techniques such as use of at least an 8 character length, multiple character types, random characters, changed frequently. Also lock out accounts after 3-5 unsuccessful
Chapter 6
Problem 4 1. a 2. o 3. r 4. u 5. t 6. c 7. l 8. s 9. m 10. q 11. n 12. j 13. e 14. h 15. i 16. k 17. f
Problem 5 1. i 2. k 3. f 4. m 5. a 6. j 7. d 8. b 9. h 10. c
Chapter 7
Problem 6 1. Bank deposits are taking place before cash receipts have been counted. a. Reconcile bank deposits and cash receipts by two separate employess.
2. Possible collusion between employees and customers. b. Require approval by second employee or supervisor.
3. Unauthorized access to physical inventory. c. Revise physical inventory procedures so there is limited access to the physical inventory.
4. Unauthorized access to inventory records, d. Safeguard perpetual inventory records so that access is limited to adjustment approval by responsible official.
5. Collusion between two employees or employees and customers. e. Segregate duties so only responsible official authorize refunds or credits.
6. Misnumbering of documents or failure to us accurate filing system f. Use prenumbered documents.
7. Unauthorized discounts or credits to customers. g. Require approval by a responsible party for discounts and credits.
8. Misunderstanding of or failure to comply with written procedures h. Create or update written procedures and require employee familiarization.
Chapter 8
Problem 1 1. d 2. s 3. b 4. m 5. f 6. t 7. o 8. j 9. k 10. n 11. l 12. a 13. u 14. i 15. q 16. g 17. p 18. e 19. r 20. v
Problem 4 a. Encrypt data stored on company laptops. b. Enforce strong password techniques such as use of at least an 8 character length, multiple character types, random characters, changed frequently. Also lock out accounts after 3-5 unsuccessful