Accounting Chp 8

  1. An internal control system consists of the policies & procedures managers use to:




    E.
  2. The principles of internal control include:




    B.
  3. Principles of internal control include:




    E.
  4. A company's internal control system:




    B.
  5. When two clerks share the same cash register it is a violation of which internal control principle?




    C.
  6. The most serioud limitation of internal control is:



    D Cybercrime
    E. Management fraud
    B.
  7. Cash, not including cash equivalents, includes:




    E.
  8. Cash equivalents:




    D.
  9. Banking activities include:




    E.
  10. A bank statement includes:




    C.
  11. The number of days' sales uncollected:




    E.
  12. The days' sales uncollected ratio is used to:




    D.
  13. Cash Over and Short account:




    A.
  14. A voucher is an internal file that:




    C.
  15. The entry necessary to establish a petty cash fund should include:




    A.
  16. The entry to record reimbursement of the petty cash fund for postage expense should include:




    D.
  17. When a petty cash fund is in use:




    E.
  18. In reimbursing the petty cash fund:




    B.
  19. Outstanding checks refer to checks that have been:




    A.
  20. A seller of goods or services, usually a manufacturer or wholesaler, is known as a:




    D.
  21. An expense resulting from failing to take advantage of cash discounts on purchases is called:




    D.
Author
tchmura
ID
134464
Card Set
Accounting Chp 8
Description
Multiple Choice on chp 8 Cash & Internal Controls
Updated