For each scenario suggest a control that could be used to reduce the risk.Entering negative values for order quantity in a sales order Selling to a customer with an overdue account Ordering from a non-existent supplier Paying for goods that have not been received Entering an alphanumeric customer ID when the business policy is for numeric customer IDs Misappropriation of goods by receiving staff, who also maintain inventory records Ordering too much of a product 8. You are required to list and explain three advantages of computer-executed control activities compared to manually executed control activities.

Risk control is the arrangement of strategies by which firms assess expected misfortunes and make a…

Answered: For each scenario suggest a control…

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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For each scenario suggest a control that could be used to reduce the risk.

Entering negative values for order quantity in a sales order
Selling to a customer with an overdue account
Ordering from a non-existent supplier
Paying for goods that have not been received
Entering an alphanumeric customer ID when the business policy is for numeric customer IDs
Misappropriation of goods by receiving staff, who also maintain inventory records
Ordering too much of a product