line Mid Term Test Seved Which of the following would NOT represent good controls over cash disbursements? Multiple Choice oints 8 00:51:07 O Authorize all expenditures before purchase and verify the accuracy of purchase itself O Make all disbursements, other than very small ones, by check, debit card, or credit card. O The employee who authorizes payment should not also be the employee who prepares the check Require only one signature for checks, especially larger ones. Financing activities include: Multiple Choice Primary operations such as selling goods to customers. C Transactions with company employees. The purchase and sale of long-term assets. O Transactions involving external sources of funding. O The following data were obtained from the bank statement and from the process of reconciling the bank balance with the company's cash balance: Bank service charges Deposit outstanding Interest earned on the bank account Checks outstanding $ 20 $150 $ 10 $400 Which items should be deducted from and added to the bank balance in completing the reconciliation? Multiple Choice O Deduct checks outstanding: add service charges and deposit outstanding. Deduct checks outstanding, add deposit outstanding o oo O Deduct deposit outstanding, add checks outstanding, Deduct interest earned, add deposit outstanding