Exam II - Chapters 4-7 0 Approved vouchers are recorded in a journal called the voucher register, 15 True or False True False am 1l - Chapters 4-7 A 16 As long as a company accurately records total credit sales information, it is not necessary to have separate accounts for specific customers True or False Sipped True False Exam II - Chapters 4-7 A Companies use two methods to account for uncollectible accounts, the direct write-off method and the allowance method 17 True or False True False The principles of internal control include: Multiple Choice Skipped Separate recordkeeping from custody of assets. Maintain minimal records. Use only computerized systems. Bono all employees Require automated sales systems Cash equivalents: 19 Multiple Choice Skipped Include savings accounts. o nou Include checking accounts. Are readily converted to a known cash amount. Include time deposits sve no immediate sue A remittance advice is a(n): Multiple Choice Explanation for a payment by check Bank statement O Internal voucher Electronic funes transfer o cance les check Exam II - Chapters 4-7 0 Approved vouchers are recorded in a journal called the voucher register, 15 True or False True False am 1l - Chapters 4-7 A 16 As long as a company accurately records total credit sales information, it is not necessary to have separate accounts for specific customers True or False Sipped True False Exam II - Chapters 4-7 A Companies use two methods to account for uncollectible accounts, the direct write-off method and the allowance method 17 True or False True False The principles of internal control include: Multiple Choice Skipped Separate recordkeeping from custody of assets. Maintain minimal records. Use only computerized systems. Bono all employees Require automated sales systems Cash equivalents: 19 Multiple Choice Skipped Include savings accounts. o nou Include checking accounts. Are readily converted to a known cash amount. Include time deposits sve no immediate sue A remittance advice is a(n): Multiple Choice Explanation for a payment by check Bank statement O Internal voucher Electronic funes transfer o cance les check