1. When auditing treasury stock, one will normally expect to see an entry in which journal? Cash disbursements. Cash receipts. Purchases. Sales.

2. Which of the following most likely would approve the issuance of notes payable? Controller. Payroll. Personnel. Treasurer.

3. Authorization of which of the following is least likely to be found during a review of the minutes of the board of directors?

Dividends.

New debt issuance.

New bank accounts.

Write-off of trade accounts receivable.

4. The proper use of prenumbered termination forms by the payroll department should provide assurance that all:

Uncashed payroll checks were issued to employees who have not been terminated.

Personnel files are kept up to date.

Employees who have not been terminated receive their payroll checks.

Terminated employees are removed from payroll.