QUESTION 1 Internal control helps Increase sales promote public relations. @ ensure the accuracy of business information and protect assets. O reduce paperwork QUESTION 2 Which of the following reflects a weak internal control system? All employees are well supervised. A single employee is responsible for comparing sales orders to sales invoices All employees must take their vacations A single employee is responsible for the collecting and recording of cash. QUESTION 3 Which of the following is not a factor influencing the control environment component of internal control? O security guards O organizational structure. O personnel policies. O management's philosophy and operating style. QUESTION 4 The purpose of the Sarbanes-Oxley Act of 2002 is to: O require both public and private companies to prepare financial statements. O restore public confidence and trust in the financial statements of publicly held companies O protect companies from the demands of investors, stockholders, and creditors. O help companies achieve higher profits. QUESTIONS Which of the following is an important control to help protect and account for cash Use of cash registers Separating duties such that the person that handles cash doesn't also record the action Reconciling the balance of cash in the company records with the bank statement All of these are important controls to help protect cash QUESTIONG The amount of deposits in transit is included on the bank reconciliation as an O deduction from the cash balance per books deduction from the cash balance per bank addition to the cash balance per bank O addition to the cash balance per books QUESTION 7 A bank deposit for $295 was erroneously recorded in the depositor's books as 5925. The 5630 difference would be included on the bank reconditions addition to the cash balance per books O addition to the cash balance per bank O deduction from the cash balance per bank O deduction from the cash balance per books QUESTIONS Which of the following would be deducted from the cash balance per books on a bank reconciliation? Service charges O Outstanding checks Deposits in transit. Notes collected by the bank usy Forded in the depositor's books as 5925. The $630 fference would be included on the bank reconciliation as an addition to the cash balance per books. addition to the cash balance per bank. deduction from the cash balance per bank deduction from the cash balance per books, QUESTIONS Which of the following would be deducted from the cash balance per books on a bank reconciliation? Service charges. O Outstanding checks Deposits in transit Notes collected by the bank. QUESTION 9 Outstanding checks would be reported on a bank reconciliation as an deduction from the bank balance O addition to the bank balance deduction from the book balance addition to the book balance QUESTION 10 Why is there typically a difference between the balance shown on a bank statement at the end of the month and the amount that is shown in a company's accounting records? because of timing differences such as outstanding checks and deposits in transit because of errors a company may have made in recording a transaction in its accounting records because of transactions that were recorded by the bank, that the company didn't know about until it received the bank statement All of the above are correct. Chick Save and Submit to save and submit. Chick Save All Ansers to save all anses