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•Why do you think internal controls are so critical for keeping track of cash assets?
Weegy: Internal controls are the methods and procedures designed by management to safeguard assets and to manage resources. It’s the system of checks and balances. [ A system of internal control serves to minimize errors in the accounting records and to deter fraud, embezzlement and theft by employees, customers and vendors. The system of internal control provides reasonable assurance of the following: Reliable financial and operational reports Efficient and effective operations Compliance with applicable state and federal laws and/or regulations and university policies and procedures As department head, you are responsible for setting the “tone at the top” of your department’s control environment and ensuring that adequate controls are included in your daily operations. In plain language, a system of internal controls is essentially a system of checks and balances. This system of checks and balances over financial transactions is needed for much the same reasons why such systems are needed for democratic governments: absolute power leads to undesirable results. In government, absolute power can result in despotism; total control by one person over financial transactions can result in theft or fraud. ............... ] (More)
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Asked 5/31/2013 12:09:44 PM
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•What are the four categories of human environmental hazards?
Weegy: The four categories of human environmental hazards include cultural, physical, chemical, and biological hazards (More)
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Asked 6/5/2013 9:33:22 AM
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•How do income tax laws affect payroll deductions?
Weegy: Generally speaking, employers report payroll by calculating gross pay and various payroll deductions to arrive at net pay. [ While this seems simple enough to understand, calculating various payroll deductions requires that the payroll accountant be detail-oriented and work with extreme accuracy. ] User: •What are the benefits to being an employee? What are the cons? Weegy: The best part of being an employee of a company is that they usually have benefits available. [ Health care is a huge benefit of being an employee, as it is much cheaper through an employer than on the individual market (this will change slightly in the United States in 2014 when insurance exchanges are put in effect). ] User: •What are the benefits to being an independent contractor? User: •If you had the choice to be either an employee or an independent contractor, which would you choose and why? Weegy: If i had a choice id rather be an independent contractor because if you are an employee you can't have quality time for your family and for yourself. And its better to live and work without a boss. (More)
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Asked 6/5/2013 9:59:40 PM
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what is an example of cultural hazards
Weegy: Cultural or lifestyle hazards- result from the place we live, our socioeconomic status, occupation, or behavioral choices. Choosing to smoke cigarettes or living or working with people who do, increases our risk of lung cancer. [ Choosing to smoke is a personal behavioral decision, but exposure to secondhand smoke may not be under one’s control. The same thing can be said for drug use, diet and nutrition, crime and mode of transportation. Advocates of environmental justice argue that such health factors as living in proximity to toxic waste sites or working unprotected with pesticides might be correlated with socioeconomic deprivation. ] (More)
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Asked 6/6/2013 10:10:41 PM
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