Approved vouchers are recorded in a journal called the voucher register. 15 True or False True False As long as a company accurately records total credit sales information. It is not necessary to have separate accounts for specific customers 16 True or False True True False False Companies use two methods to account for uncollectible accounts, the direct write-off method and the allowance method 17 True or False Skipped True False The principles of internal control include: 18 Multiple Choice Skipped Separate recordkeeping from custody of assets. o Maintain minimal records. o Use only computerized systems. o Bond all employees o Cash equivalents: 19 Multiple Choice Skipped o Include savings accounts. o Include checking accounts. o Are readily converted to a known cash amount o Include ume deposits. o Have no immediate value A remittance advice is a(n): 20 Multiple Choice Explanation for a payment by check Bank statement Internal voucher Electronic funds transfer. Cancelled check