Please answer the following questions, Thanks

Question 1

Instructions: Designate the best answer for each of the following questions. 1. The use of a cash register for cash receipts is an example of the internal control principle of a. documentation procedures. b. physical, mechanical, and electronic controls. c. independent internal verification. d. segregation of duties. 2. Cash includes all of the following items except a. cheques. b. currency. c. money orders. d. all of the above are included. 3. The objectives of internal control are to a. prevent unintentional errors and irregularities. b. safeguard assets and enhance the accuracy and reliability of the accounting records. c. enhance the accuracy and reliability of nancial statements. d. safeguard assets and prevent thefts. 4. When a petty cash fund is in use, a. an entry must be made to the appropriate expense, asset, etc. account when a disbursement is made. b. the size of the fund should be such that it can be used to cash employees' bi-monthly payroll cheques. c. entries are generally made to Petty Cash only when it is initially set up or the stipulated amount of the fund is changed. d. an entry is made to Petty Cash when the fund is replenished to its original amount. 5. Lack of agreement between the cash balance per bank and the cash balance per books is due to a. errors and poor internal control. b. errors and bank memoranda. 0. time lags and bank memoranda. d. time lags and errors. 6. The bank statement that a depositor receives from the bank includes a. notification of amounts deducted by the bank to cover such things as the cost of a supply of new cheques ordered by the depositor. b. a designation of which cheques are still outstanding at the end of the month. 0. a designation of which deposits are in transit at the end of the month. d. notification of errors made by the depositor in recording cheques written during the month in the depositor's accounts. 7. Which of the following is an advantage of using subsidiary ledgers? a. Makes possible a division of labour in posting. b. Helps locate errors in individual accounts. c. Shows transactions affecting one customer or one creditor in a single account. d. All of the above. 8. In a special journal, the individual entries in a specic column but not that column's total are posted daily if the column represents a a. general ledger account that is not a control account. b. general ledger account that is a control account. c. sundry or "other" group of accounts, none of which are control accounts. d. none of the above. 9. ther controls include 0 a internal verication. b. bonding of all employees who handle cash. c documentation procedures. d segregation of duties. Six internal control principles related to cash transactions are discussed in the textbook. These principles, with code letters, are: Code Internal Control Principle Authorization A B Segregation of duties C Documentation D Safeguard assets and records E Independent verification F Other controls Instructions: Match the above principles to the following applications related to cash receipts and cash disbursements by placing the code in the space provided. Each code letter can be used once, more than once, or not at all. 1. The duties of receiving and recording cash should be assigned to different individuals. 2. Daily cash counts should be made by cashier department supervisors. 3. Cash receipts should be deposited in the bank in total daily. 4. Cash register tapes should be used for over-the-counter receipts. 5. Each cheque should be compared with approved invoices before being issued. 6. The duties of approving an item for payment and paying the item should be performed by different individuals. 7. All cheques should be prenumbered. 8. Only the controller should be authorized to sign cheques. 9. All personnel who handle cash should be bonded. 10. Blank cheques should be stored in a safe, and access should be restricted. 11. Only designated personnel should be authorized to handle and have access to cash receipts. 12. After payment, an invoice should be stamped PAID