QUESTION 7 A common cause between the difference of cash on the General Ledger and the Bank Statement is: Deposits recorded in the books one period, but not deposited until the next period Checks that have been cleared in the bank and on the books Accounts Receivable discrepancies O Deposits that have been cleared in the bank and on the books QUESTION 8 What are the two sub-cycles to in the payroll cycle? Cash receipts and accruals Payments of employee services and payroll accruals Employee subcards and vacation hours 0 Wages expenses and payroll tax payables QUESTION 9 When the cost of inventory is First In First Out, then: First in of inventory is still here (FISH) Last in of inventory is still here (LISH) Units of measurement of inventory is still here 0 Weighted average of inventory is still here QUESTION 10 To test for existence, an auditor would start: The journals and trace back to the general ledger The general ledger and trace forward to the financial statements The source documents and trace forward to the financial statements The financial statements and trace back to the source documents