10) Which accounting provide gouds and services to Iwinciple states that a company shoud evenue recognition C) Conservatian 11) Deferred revenues refer to heing reconded prior to cash collection from the venue being recorded at the same time the cash is collected from the collected from the customer after the revenue is recod tomers paying cash in advance of the good or service to be 12) The accounting basis that records revenues when goods or services are provided to customers and expenses A) Accrual-basis. C) Reporting-basis. B) Cash-basis. D) Matching-basis. 13 )A company orders office supplies in June. Those supplies are received and paid for in y. lhe supplies are used in August. Under the accrual basis of A) June. C) Evenly over the three months. month should the company record supplies expense? B) August. D) July 14) Which of the following items would cause the balance of cash in the bank statement A) Interest earned on the bank balance that the company has not recorded. B) Cash receipts by the company that have not been deposited in the bank. C) Checks written by the company that have not cleared the bank. D) All of the other answers would cause cash balances to differ. to equal the balance of cash in the accounting records? 5) Giving only management the right to make purchases over a certain amount is an example of which preventive control? A) Employee management. C) Proper authorization B) Separation of duties. D) Physical controls. ) Which of the following is NOT a design feature of effective internal controls? A) Prevent misuse of company funds by employees B) Ensure the company's price advantage over competitors. C) Allow greater reliance by investors on reported financial statements. D) Prevent fraudulent or errant financial reporting