Financial Accounting Chapter 7 Test

What is not an element of internal control

What is not a factor that influence a business control enviroment

Internal control does not consist of policies and procedures that

A firm's internal control environment is not influenced by

In management's internal control report that is required of all public companies, what doesn't have a direct effect on company internal control system

What is not considered cash by accountants?

The cash account in the company's ledger is a(n)

The notification accompanying a check that indicated the specific invoice being paid is called a

The debit balance in Cash Short and Over at the end of an accounting period is reported as

A special form on which is recorded pertinent data about liability and the particulars of its payment is called a

EFT can

A voucher

The reconciliation of the cash register tape with the cash in the register is an example of

What is not an internal control activity for cash?

The term cash includes

On the banks accounting records, customers' account are normally shown as

A bank statement

Whatwould cause a bank to debit a company account?

A debit or credit memo describing entries in the company's bank account may be enclosed with the bank statement. An example of a credit memo is

A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a

A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. What entry is required in the company's accounts?

A bank reconciliation should be prepared periodically because

The bank reconciliation is part of

Journal entries based on the bank reconciliation are required in the company's accounts for

Accompanying the bank statement was debit memo for bank service charges. On the bank reconciliation, the item is

Accompanying the banks statement was a debit memo for bank service charges. What entry is requires in the companies account?

Receipts from cash sales of $3200 were recorded incorrectly in the cash receipts journal as $2300. This item would be included in the bank reconciliation as an

Receipts from cash sales of $3200 were recorded incorrectly in the cash receipts journal as $2300. What entry is required in the company's account

Accompanying the bank statement was a credit memo for short-term note collected by the bank for the company. This item is an

Accompanying the bank statement was a credit memo for short-term note collected by the bank for the company. What entry is required in the company's record?

The amount if deposits in transit included on the bank reconciliation as a

The amount of outstanding checks is included in the bank reconciliation as a

What does mot require an adjusting entry in a bank reconciliation

Accompanying the bank statement was a debit memo for an NSF check received form a customer. This item would be included on the bank reconciliation as a(n)

Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's record?

What would be deducted form the balance per books on a bank reconciliation?

What would be added to the balance per books on a bank reconciliation

Which of the following would be subtracted from the balance per books on the bank reconciliation

Which of the following would be substrates from the balance per bank on a bank reconciliation

A bank reconciliation should be prepared to

During a bank reconciliation process..

A $150 petty cash fund has cash of $44 and receipts of $93. The journal entry to replenish the account would included

Entries are made to the petty cash account when

The type of account and normal balance of petty cash is a(n)

The debit recorded in the journal to reimburse the petty cash fund goes to

A $100 petty cash fund contains $91 in petty cash reciepts, and 4.47 in currency and coins.The journal entry to record the replenishment of fund would included a

A $140 petty cash fund contains $117 in receipts, and $20 in cash. The journal entry to record the replenishment of fund would included a

Cash equivalents included

Cash equivalents will be

What should not be included with the cash and equivalents on the balance sheet?