西方财务会计课后题5-8答案.doc

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1、CHAPTER51.THEKNOWLEDGETHATJOBROTATIONISPRACTICEDANDTHATONEEMPLOYEEMAYPERFORMANOTHER’SJOBATALATERDATETENDSTODISCOURAGEDEVIATIONSFROMPRESCRIBEDPROCEDURES.ALSO,ROTATIONHELPSTODISCLOSEANYIRREGULARITIESTHATMAYOCCUR.2.Authorizingcompletecontroloverasequenceofrelatedoperationsbyoneindividualprese

2、ntsopportunitiesforinefficiency,errors,andfraud.Thecontroloverasequenceofoperationsshouldbedividedsothattheworkofeachemployeeisautomaticallycheckedbyanotheremployeeinthenormalcourseofwork.Asystemfunctioninginthismannerhelpspreventerrorsandinefficiency.Fraudisunlikelywithoutcollusionbetween

3、twoormoreemployees.3.Toreducethepossibilityoferrorsandembezzlement,thefunctionsofoperationsandaccountingshouldbeseparated.Thus,oneemployeeshouldnotberesponsibleforhandlingcashreceipts(operations)andmaintainingtheaccountsreceivablerecords(accounting).4.No.Combiningtheresponsibilityforrelate

4、doperations,suchascombiningthefunctionsofpurchasing,receiving,andstoringofsupplies,increasesthepossibilityoferrorsandfraud.5.Thecontrolprocedurerequiringthatresponsibilityforasequenceofrelatedoperationsbedividedamongdifferentpersonsisviolatedinthissituation.Thisweaknessintheinternalcontrol

5、maypermitirregularities.Forexample,theticketseller,whileactingastickettaker,couldadmitfriendswithoutaticket.6.Theresponsibilityformaintainingtheaccountingrecordsshouldbeseparatedfromtheresponsibilityforoperationssothattheaccountingrecordscanserveasanindependentcheckonoperations.7.Theindivi

6、dualaccountsreceivableledgeraccountsprovidebusinessmanagersinformationonthestatusofindividualcustomeraccounts,whichisnecessaryformanagingcollections.Managersneedtoknowwhichcustomersowemoney,howmuchtheyowe,andhowlongtheamountowedhasbeenoutstanding.8.Themajoradvantagesoftheuseofspecialjourna

7、lsaresubstantialsavingsinrecord-keepingexpensesandareductionofrecord-keepingerrors.9.a.250；b.None10.a.250；b.111.a.Sometimefollowingtheendofthecurrentmonth,oneoftwothingsmayhappen:(1)anoverduenoticewillbereceivedfromHoffmanCo.,and/or(2)aletterwillbereceivedfrom