6) In a completed accounting cycle it is necessary to complete four trial balances.

True

False

8) A Notes Receivable generally has interest attached to it.

True

False

10) In calculating the maturity date of a note, the date thatthe note begins on is not included but the date that it ends on is included.

True

False

11) The purpose of bank reconciliation is to make ncessary adjustments that will determine if the book's cash balance agrees with the bank's cash balance.

True

False

12) Internal control is procedures and policies used to protect an entity's assets from fraud embezzlement and theft.

True

False

13) The responsibility of cash receipts and cash recording should be separated.

True

False