( b) Explain to Lisa at least 5 internal control procedures she must establish to protect herself against fraud. You should state specific internal control procedures from the textbook, and relate your answer to her nail salon business.( 15 points)( Points: 25) Q-2-Set 2 2. Your friend, John, plans to open a parking garage business. John states that he does not have time to develop and implement a system of internal controls.( a) Explain to John the objectives of a system of internal control.( b) Explain to John at least 5 internal control procedures that he must establish to protect himself against fraud. You should state specific internal control procedures from the textbook and relate your answer to his parking garage business. solution
Question 3.( TCO A) The following items are taken from the financial statements of PQR Company for 2013: Cash $ 100,000
Instructions:( 1) Create a classified balance sheet in good form for the year ended 2013.( 30 points)( 2) Calculate the current ratio and debt ratio and explain your findings.( 6 points)( Points: 36)
Question 3— Set 2( TCO H) Corporations in need of cash can either issue stock or bonds to raise capital. What are the differences between these two activities and why might a company choose one over the other?( Points: 20)
Q-3 Set 3