Accounting 1: Chapter 8

the process of comparing the bank's balance of an account with the company's balance and explaining any differences to make them agree

a fee charged by a bank for use of it's services

a monthly statement from the bank that shows the depositor's bank transactions and balances

obtaining insurance protection against misapproriation of assets by employees

resources that consist of coins, currency, checks, money orders, and money on hand or on deposit in a bank or similar depository

short-term, highly liquid investments that can be converted to a specific amount of cash

a written order signed by a bank depositor, directing the bank to pay a specified sum of money to a designated recipient

minimum cash balances required by a bank in support of bank loans

deposits recorded by the depositor but not yet been recorded by the bank

a disbursement system that uses wire, telephone, or computers to transfer funds from one location to another

company employees who continuously evaluate the effectiveless of the company's internal control system

all of the related methods and measures adopted within an organization to safeguard it's assets and enchance the accuracy and reliability of it's accounting records

a check that is not paid by a bank because of insufficient funds in a customer's bank account

checks issued and recorded by a company but not yet paid by the bank

a cash fund used to pay relatively small amounts

cash that must be used for a special purpose

regulations passed by Congress in 2002 to try to reduce unethical corporate behavior

an authorization form prepared for each payment in a voucher system

a network of approvals by authorized individuals acting independently to ensure that all disbursements by check are proper