Select the correct option from the following:

1. The Sarbanes-Oxley Act requires that all major U.S. corporations

a. Maintain a monthly bank reconcilliation report.

b. maintain a petty cash fund

c. maintain an adequate system of internal control

d. must report filings to the national commission of Fradulentactvity

2. The use of cash register tapes is an example of

a. documentation procedures.

b. other controls.

c. physical controls.

d. independent internal verification.

3. A petty cash fund of $200 is replenished when the fund contains $5 in cash and receipts of $192. The entry to replenish the fund would

a. credit Cash Over and Short for $3.

b. debit Cash Over and Short for $3.

c. debit Miscellaneous Expense for $3.

d. credit Petty Cash for $192.

4. On a bank reconciliation, collection of a note receivable by the bank is

a. added to the bank balance.

b. deducted from the bank balance.

c. added to the book balance.

d. deducted from the book balance.