Street 5 The internal document prepared to notify the appropriate persons that goods ordered have been received, describing the quantities and condition of the goods is the Multiple Choice o o o involce sporoval C ) Purchase requisition o Receiving report O C) Purchase order A remittance advice is a(n): Multiple Choice o Bank statement o Internal voucher o O Explanation for a payment by check o Cancelled check. o Electronic funds transfer. Cash equivalents: Multiple Choice Include savings accounts. Have no immediate value. Include time deposits. Are readily converted to a known cash amount. Include checking accounts. The itemized statement of goods prepared by a vendor listing the customers name, items sold, sales prices and terms of the sale is called the invoice approval Invoice O Receiving report O Purchase order Purchase requisition The document that the purchasing department prepares and sends to the vendor to place an order is called the Multiple Choice O Invoice approval C) Purchase requisition Receiving report invoice Purchase order An income statement account that is used to record cash overages and cash shortages arising from petty cash transactions or from errors in making change is titled Multiple Choice Petty Cash Cash Lost O O O O OT Cash Over and Short O Cash Receivable O Bank Reconciliation The principles of internal control include: Multiple Choice Use only computerized systems. Bond all employees Require automated sales systems. Maintain minimal records. Separate recordkeeping from custody of assets. Halo Save it Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the dose of business on August 31 Franklins August bank statement shows $19.437 on depot in the bank Determine the dusted cash balance using the flowing information Cash account shows a balance of $99.562 Deposit in transit Outstanding checks Bank service fees, not yet recorded by company The bank collected
Street 5 The internal document prepared to notify the appropriate per
Street 5 The internal document prepared to notify the appropriate persons that goods ordered have been received, describing the quantities and condition of the goods is the Multiple Choice o o o involce sporoval C ) Purchase requisition o Receiving report O C) Purchase order A remittance advice is a(n): Multiple Choice o Bank statement o Internal voucher o O Explanation for a payment by check o Cancelled check. o Electronic funds transfer. Cash equivalents: Multiple Choice Include savings accounts. Have no immediate value. Include time deposits. Are readily converted to a known cash amount. Include checking accounts. The itemized statement of goods prepared by a vendor listing the customers name, items sold, sales prices and terms of the sale is called the invoice approval Invoice O Receiving report O Purchase order Purchase requisition The document that the purchasing department prepares and sends to the vendor to place an order is called the Multiple Choice O Invoice approval C) Purchase requisition Receiving report invoice Purchase order An income statement account that is used to record cash overages and cash shortages arising from petty cash transactions or from errors in making change is titled Multiple Choice Petty Cash Cash Lost O O O O OT Cash Over and Short O Cash Receivable O Bank Reconciliation The principles of internal control include: Multiple Choice Use only computerized systems. Bond all employees Require automated sales systems. Maintain minimal records. Separate recordkeeping from custody of assets. Halo Save it Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the dose of business on August 31 Franklins August bank statement shows $19.437 on depot in the bank Determine the dusted cash balance using the flowing information Cash account shows a balance of $99.562 Deposit in transit Outstanding checks Bank service fees, not yet recorded by company The bank collected
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