The website www.cpa2biz.com has an article dated February 4, 2010, by Mary Schaeffer entitled “Emerging Issues: Demise of Paper Checks.”

Instructions Go to the website and do a search on the article title. Read the article and answer the following questions.

(a) How many different forms of payment types does the article list? What are the payment types?

(b) What problems does the shift away from paper checks to alternative payment options present for companies?

(c) What five controls does the article suggest incorporating, to decrease problems associated with multiple payment options?
INTERPRETING FINANCIAL STATEMENTS