16 The purpose of the Sarbanes-Oxley Act of 2002 is to: a. restore public confidence and trust in the financial statements of publicly held companies. b. require all companies to prepare financial statements. c. protect companies from demands of investors, stockholders, and creditors. d. do all of these. An element of internal control is: 17. a. risk assessment. b. journals. c. subsidiary ledgers. d. controlling accounts. 18. Which of the following would be deducted from the cash balance per books on a bank reconciliation? a. Service charges b. Outstanding checks c. Deposits in transit d. Notes collected by the bank Which of the following would be added to the cash balance per books on a bank 19 reconciliation? a. Service charges b. Outstanding checks c. Deposits in transit d. Notes collected by the bank