ale Financial Accounting x 03 Mai Study Qu gle.com/document/d/ 1 fk3Np0eYB7CYgskZwZKSColt fT46UB6wwsrmNCY0/edit Chapter 7 Format Tools Add-ons Help Accessibility All changes saved in Drive Normal text Arial 13. The portion of an invoice that is returned with payment isa a remittance advice b. vouche C debit memo will d. credit meme 14 An element of internal control is a risk assessment c subsidiay ledgers d controlling accounts 15 Which one of the following i net a Eactor that influmcrs a business's control environment a. managements philosophy and operating style b organizational saructure c proots and security mesures d personel pobicies 16. Selected financial std for the o years ended December 31 for Carry Co follow Assets are seponed at thei year-end vlur Year 2 Year 1 32.500 530,100 Cath SAMSUNG 1l 0 at Tools Add-ons Help a c Accessibility All changes saved in Drive mal textArial 19 Which of the following wouldl be subtracted from the balance per bank on a banik recoxcilianio? a outstanding checks b deposits in transit C. notes colected by the bank d service charges 20. Which of the following is a reason that businesses use bank accounts as part of their internal cootrol measures a. The bank records incoming checks as liabilities b Customer's returned checks can be charged an NSF fee c Bank accounts are an independent recoed of cash transactions d Differences between the company balance and the bank balance will autormatically indicate fraud 21. The debit recorded in the journal to reimburse the pety cash fund is to a Petty Cash b. Accounts Receivable c. Cash d various accounts for which the pety cash was disbursed 22. A company's days cash on hand is computed by dividing a cash and short-term investments by daily cnh operaing expenses b cash by total cash operating expenses cash, short-term investmens, and accounts receivable by daily cash operating expenses d. average cash over the period by delly cash operating expenses 23. The effect of a credit memo on the company's books and the bank records is as follows Increases an asset on the company's books and increases a iability on the hank's recoeds liability on the bank's records d. Decreases an asset on the company's books and increases a lisbillay on the bank's recoeds b. Increases an asset on the company's books and increases an asset on the bank's recoeds Decreases an asset on the company's books and decreases a SAMSUNG