Identify the example of poor internal control.
a: a salesperson makes the sale and a differe...
Business, 12.11.2019 01:31 quintonps12
Identify the example of poor internal control.
a: a salesperson makes the sale and a different person ships the goods.
b: the custodian of an asset should not maintain or have access to the accounting records.
c: one person should be responsible for handling related activities.
d: the accountant should not have physical custody of the asset nor access to it
Answers: 1
Business, 21.06.2019 20:30
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Answers: 3
Business, 22.06.2019 08:40
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Answers: 2
Business, 22.06.2019 20:40
Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.
Answers: 1
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