31. In a bank reconciliation, interest revenue earned on your bank balance is a. b. c. d. added to the balance per cash book deducted from the balance per cash book added to the balance per bank statement deducted from the balance per bank statement 32. Which of the following would not be found in a company that has an effective system of internal control? All checks and receipts are prenumbered and missing numbers are investigated. Every employee is required to take a regular vacation time each year while another employee performs his or her job. One employee is responsible for actual physical control over the inventory while a different employee enters inventory information in the computer The person who signs checks and makes deposits also reconciles the bank statement each month. a. b. c. d. 33. A company, using the periodic inventory system, has merchandise inventory costing $175 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At the year-end, merchandise inventory costing $160 is on hand. The cost of merchandise sold for the year is a. $620 b. $300 c. $650 d. $970 34. The method of determining depreciation that yields successive reduction in the periodic depreciation charge over the estimated life of the asset is a. declining-balance b. straight-line c. time-valuation d. units-of-production