14. Import duties on purchases of inventory items

a. are automatically recorded as liabilities to the Receiver General for Canada once the duties are properly set up

b. require separate purchase and payment entries

c. are always charged on foreign inventory purchases

d. may be entered automatically from the rates in the inventory ledger

18. Which one is not a safeguard for account reconciliation to avoid mistakes

a. saving a reconciliation transaction before posting

b. printing the general ledger or bank transactions report for the bank account

c. using deposit slip numbers to clear transactions

d. naming and linking reconciliation accounts

19. Which one of the following general statements is true

a. unresolved amounts will be posted to the reconciliation adjustments expense account

b. drill-down reports are available from the account reconciliation summary report

c. you can enter only one transaction for each type of income and expense

d. you must complete the account reconciliation setup each month