multiple choice question  Which of the following statements is false with regard to a Cash Receipts Journal?:   All receipts of cash from customers should be recorded in it Receipts of cash from the owner should not be recorded in it Receipt of cash from cash sales should be recorded in it.      4.Receipt of cash from borrowing should be recorded in it

Q: It is inefficient to record all cash receipts in a general journal. true false

A: The general journal is the sub part of journal in which the fallowing types of transactions are…

Q: The explanation of the differences between the cash account balance according to the company’s book…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Which of the following adjusts the bank's balance of cash in a bank reconciliation?  (More than one…

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Q: Which of the following has incorrect treatment for the bank and book reconciling items assuming…

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Q: The same bookkeeper should avoid contact with BOTH Accounts Receivable AND cash receipts. Explain…

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Q: Which of the following generally would be considered good internal control of cash disbursements? a.…

A: Cash controls:   Management must have a safety measure to protect all assets against possible…

Q: Money orders are considered cash. True False

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Cash receipts from sales on account have been misappropriated. Which of the following acts would…

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Q: The bank reconciliation Select one: A. is sent to the bank for verification B. is for information…

A: Introduction:- Bank reconciliation play vital role in every organization. It identify the balance of…

Q: Which one of these principles is considered for cash disbursement control: Select one: a. Rarely…

A: Cash disbursement control is a technique usually used for cash management that helps organizations…

Q: S1: Bank reconciliation is important because it is an opportunity to check for fraudulent activity…

A: Solution: Given 4 statement are related to cash and bank reconciliations. Correctness of these…

Q: Direction: Explain the relationship of CASH, CHECKS, BANK STATEMENT, AND BANK RECONCILIATION.

A: Answer: Cash is the asset that is being hold by the company.  Checks are the document that are…

Q: Which of the following is issued by a company to the responsible staff in order to establish a petty…

A: The petty cash fund is established for daily basis small cash expenses of the business.

Q: Which of the following is not an essential cash receipt internal control? Multiple Choice   Have…

A: Internal control means the ways of doing the business and kept a control over the activities of…

Q: Notification by the bank that a deposited customer check was returned NSF requires that the company…

A: Bank A/c    Dr     To Account receivables A/c 1. here bank balance will increase when cheque is…

Q: State the reasons of the following statement:  The balance in the cash column of the cash book is…

A: a.   Cash column of cash book will always show debit balance because cash payment can never exceed…

Q: Pixel Copies recorded a cash collection on account by debiting Cash and crediting Accounts Payable.…

A: If there is any cash collection on account, then cash will be increased hence should be debited. And…

Q: Applying internal control over cash payments by check A purchasing agent for Franklin Office…

A: Definition:   Internal control: An internal control is a policy used by management to prevent the…

Q: Which of the following is not an essential cash receipt internal control? Multiple Choice   Have…

A: Internal controls are the controls implemented to ensure the efficiency in the operations of an…

Q: bank balance in the cash book and that of the bank statement

A: Bank balance in cash book means amount of balance of bank ledger in the books of the entity/person…

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

Q: Which of the following items appearing on a bank reconciliation require a journal entry to bring the…

A: Bank reconciliation statement is a statement which is prepared to reconcile cash balance as per cash…

Q: Q2. The following are a list of possible errors or fraud (1 through 5) involving cash receipts and…

A: Hi student Since you have posted multiple questions, we will answer only first question. If you want…

Q: What controls can be used: a) to make sure cash accounts are accurate b) to make sure cash…

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Q: Which of the following statement is incorrect regarding Cash and Cash Equivalents?   a. Postage…

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Q: Which of the following would not be an appropriate heading for a column in the cash receipts…

A: Answer to Question: C) Creditors…

Q: bank statement is prepared   Question 1 options:   to know the payment made through cheques   to…

A: A bank reconciliation statement is prepared by the management at a particular time period. It helps…

Q: Ms. Fatma is cashier working in Spar Super Market. She purposely does not records the amount…

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: A customer’s check received in settlement of an account receivable is considered cash. True False

A: Dear student, as per Bartleby answering guidelines we can answer only the first question. if…

Q: When the petty cash imprest system is established:   the bank account is debited. the petty cash…

A: Petty cash: Small payments like stationery expense , Postage , Taxi etc all these are recorded in…

Q: Under the imprest system, which amount the following situations when accounting entry is/are made?

A: Petty cash fund under the Imprest system does not record any entries unless the account is being…

Q: When a petty cash fund is used, which of the following is true? A. Entries that include a credit to…

A: The petty cash fund is established to maintain the cash balance for the minor cash transactions of…

Q: Indicate whether the following statements are true or false. A guideline for safeguarding cash is to…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Bank errors should: Group of answer choices be adjusted in book but not in bank proof of cash. be…

A: when ever transaction is recorded in the cash book and pass book there is is always a chance that…

Q: The difference between the bank statement balance and the balance in Bank account in the general…

A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…

Q: A common audit procedure to verify the existence assertion of cash account balances is: a.…

A: Existence assertion is the assertion that the assets and the liabilities which is appearing the…

Q: Which one of these principles is considered for cash disbursement control Select one: O a. Print…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: Which one of the following statements is true? a.Good cash management practices dictate that a…

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: What Petty Cash involves, choose the best answer: Select one: O a. Borrow the fund, making payment…

A: Petty cash, also known as the petty cash reserve, is a small sum of cash on hand that is used to pay…

Q: Based on the bank reconciliation THAT IS ATTACHED, journalize the entry or entries to be made by…

A: Bank reco is a statement showing difference between bank balance…

Q: The purpose of bank reconciliation a) None of the answers are correct b) These will include checking…

A: By summarizing banking and business activity, a bank reconciliation statement reconciles an entity's…