An internal control system consists of the policies and procedures managers use to (#80) A) Protect assets B) Ensure reliable accounting. C) Promote efficient operations. D) Urge adherence to company policies E) All of the above. 52. Which of the following statements about cash are FALSE? A) To increase their return, many companies invest idle cash in cash equivalents. B) Liquidity refers to a company's ability to pay it near-term obligations. C) Cash is a non-liquid asset. D) Checking accounts are also called time deposits. E) Both C and D are false 53. Banking activities include: (#97) A) Bank accounts. B) Bank deposits. C) Checking. D) Electronic funds transfer. E) All of the above