ACC-0014-74695 Financial Accounting Event - Zoom Identify the true statement regarding a bank reconciliation: The bank reconciliation should be prepared by an employee who has many responsibilities relating to the cash account. Bank reconciliations should be prepared annually The majority of reconciliation items are due to timing differences.. Errors are only made from the bank's side. Question 2 1 The journal entry to record a non-sufficient funds (NSF) check would include a debit to cash credit to deposits in transit Cdebit to accounts receivable credit to accounts receivable Question 3 1 A company that permits multiple cashiers to use the same cash drawer during the same shift has violated this internal control element: C using technology Cestablishing clear responsibilities purchasing adequate insurance separation of duties Separation of duties Question 4 1 pt An employee with large amounts of personal debt best exemplifies this element of the fraud triangle: Pressure/incentive the financial status of most employees Opportunity Rationalization Question 5 1 pts A company's bookkeeper recorded a check at $530.56 for store supplies. The bank recorded the check at its correct amount of $350.65. How will this error be treated on the bank reconciliation? Addition to bank balance Deduction to bank balance Addition to book balance Deduction to book balance Question 6 5 pts 80 3 4 5 6 7 8 R