Title: ACCT 312 Effective Communication / snaptutorial.com - PowerPoint PPT Presentation

Description: ACCT 312 Final Exam Answers 3. (TCO 5) Internal Control Procedures are required to safeguard company assets and to ensure ethical operation of the business. (1) Explain how smart hiring practices can satisfy the purpose of internal control (15 points) and (2) provide an example of how this control could be implemented. (10 points) (Points : 25)1) Entering a transaction in the journal does not get the data into the ledger. Data must be copied to the ledger—a process called posting. Debits in the journal are always posted as debits in the accounts, and likewise for credits. (Harrison 77) 4. (TCO 4) Inventory valuation methods – PowerPoint PPT presentation