Knowee
Questions
Features
Study Tools

The cash register automatically calculates the total owed by the customerGroup of answer choicesControl activityControl weakness

Question

The cash register automatically calculates the total owed by the customer

  • Group of answer choices
    • Control activity
    • Control weakness
🧐 Not the exact question you are looking for?Go ask a question

Solution

The text you provided seems to be asking whether a cash register automatically calculating the total owed by the customer is a control activity or a control weakness.

  1. Control Activity: This refers to the actions established through policies and procedures that help ensure management directives are carried out. They help ensure that necessary actions are taken to address risks in achieving the entity's objectives.

  2. Control Weakness: This refers to a failure in the implementation or design of control procedures. It means that the controls in place are not sufficient to prevent or detect material misstatements in the financial statements.

In this case, a cash register automatically calculating the total owed by the customer would be considered a Control Activity. This is because it is a procedure put in place to ensure the accuracy of the transaction and prevent any potential human error in calculation. It helps to mitigate the risk of financial misstatement or loss due to errors in calculation.

This problem has been solved

Similar Questions

Under the _____ accounting system, transactions are recorded when they occur.Group of answer choicescash-basedthroughputmanagerialaccrual

The cash disbursements system processes the payment of obligations created in the purchases system.Select one:TrueFalse

Bad debts expense is not recognized in cash basis accountingGroup of answer choicesTrueFalse

The manager must approve all discounts great than 10%Group of answer choicesControl weaknessControl activity

The sales returns and allowances account is an example ofGroup of answer choices

1/1

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.