QUESTION 21 Each day's cash receipts should be deposited intact in the bank daily O. To prevent temporary borrowing of funds by employees handling cash To avoid having to establish a petty cash system Ob So a receipt will not be required from the bank Od To prevent lapping QUESTION 22 The income statement gives a picture of the financial position of a business at a point in time True False 1 points QUESTION 23 Year 1 sales revenue is $240,000, and its trend index number is 120 Year 5 sales revenue (current year) is $360,000 and its trend index number is 150. Year 1 sales revenue converted to current dollars is