Question : 36.Identify the procedure below that NOT essential for proper control : 1169433

 

 

36.Identify the procedure below that is NOT essential for proper control over cash payments.   

A. Enter all cash payments promptly in the accounting records.

 

B. Have only designated personnel approve bills and invoices before they are paid.

 

C. Make all payments out of a petty cash fund or a travel and entertainment fund.

 

D. Use prenumbered check forms.

 

 

 

 

37.On a bank reconciliation statement, you would find all of the following except:   

A. a list of canceled checks.

 

B. a list of NSF checks.

 

C. a list of outstanding checks.

 

D. the bank service charge.

 

 

 

 

38.A firm’s bank reconciliation statement shows a book balance of $15,820, an NSF check of $400, and a service charge of $20. Its adjusted book balance is   

A. $16,240.

 

B. $15,400.

 

C. $15,440.

 

D. $16,200.

 

 

 

39.A firm’s bank reconciliation statement shows a book balance of $31,640, an NSF check of $800, and a service charge of $40. Its adjusted book balance is   

A. $32,480.

 

B. $30,800.

 

C. $30,880.

 

D. $32,400.

 

 

 

40.To arrive at an accurate balance on a bank reconciliation statement, outstanding checks should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

41.To arrive at an accurate balance on a bank reconciliation statement, a credit memorandum from the bank for the collection of a note and interest should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

42.To arrive at an accurate balance on a bank reconciliation statement, a service charge should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

43.To arrive at an accurate balance on a bank reconciliation statement, a debit memorandum for a customer check marked NSF should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

44.To arrive at an accurate balance on a bank reconciliation statement, an error made by the bank in which the bank deducted a check issued by another business from the balance of the company’s bank account should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

45.A check issued for $890 to pay a vendor on account was recorded in the firm’s records as $980; the canceled check was properly listed on the bank statement at $890. To arrive at an accurate balance on a bank reconciliation statement, the error should be   

A. added to the bank statement balance.

 

B. added to the book balance.

 

C. deducted from the bank statement balance.

 

D. deducted from the book balance.

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more