Chapter 6 - Homework The petty cash fund should be reimbursed when it is rearing zero and at the end of the accounting period when financial statements are prepared True or False True False mapter 6 - Homework Outstanding checks, deposits in transit, and bank service charges are added to the beginning balance of the bank statement to determine the adjusted bank balance. True or Faire True False Chapter 6 - Homework Managers place a high priority on Internal control systems because the systems asust managers in all of the following except ! Multiple Choice o Promoting eficient operations. o Protecting assets. o O upholding company policies. o Ensuring real accounting o (O) E urng tht no ot w occur Chapter 6 - Homework O Which Internal control principle prescribes the use of pre-numbered printed checks? points Multiple Choice O Technological controls O Maintain adequate records. References O Perform regular and independent reviews O Establish responses O D ce responsibility for reste transactions APPS New lab Chapter 6 - Homework a Internal control systems are: 1 Multiple Choice 0 Developed by the Securities and Exchange Commission for public companies po ito 0 O Developed by the Small Business Administration for non-public companies 0 O Developed by the Internal Revenue Service for all U.S. Companies. public compa 0 Required by Sarbanes-Oxley ISOX to be documented and certified if the company's stock is traded on an exchange 0 equired only if a company plans to engage in Interstate commerce