12. Which of the following would NOT represent good controls over cash receipts? A. Record all cash receipts as soon as possible. B. The employee that receives cash and checks should also deposit them in the bank. C. Open mail each day and make a list of checks received with the amount and payer's name. D. Verify cash receipts by comparing the bank deposit slip with the accounting records. 13. Which of the following would NOT represent good controls over cash disbursements? A. Make all disbursements, other than very small ones, by check, debit card, or credit card. B. Require only one signature for checks, especially larger ones. C. Authorize all expenditures before purchase and verify the accuracy of the purchase itself. D. The employee who authorizes payment should not also be the employee who prepares the check. 14. Which of the following is NOT a reason why a bank reconciliation is necessary? A. The company has transactions that the bank has not recorded. B. Petty cash has a low balance.. C. The bank has transactions that the company has not recorded. D. Reconciliations provide a control over cash. 15. A minor amount of cash kept on hand to pay for small purchases is referred to as a: A. Petty cash fund. B. Cash receipts fund. C. Cash payments fund. D. Cookie jar fund. 16. A company's cash balance is reported in which two financial statements? A. Income statement and statement of cash flows. B. Balance sheet and statement of cash flows. C. Income statement and balance sheet. D. Balance sheet and statement of stockholders' equity. 17. Operating cash flows would exclude: A. Payment of employee salaries. B. Receipt of cash from customers. C. Payment of dividends. D. Payment for advertising.