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ton 1 ever saved The control activity related to not having the same person authorize and pay for goods is known as ked out of ag question Select one: O assignment of responsibility. segregation of duties. O review and reconciliation Ophysical controls. Clear my choice son 2 Which of the following is not a basic principle of cash management? -er saved ed out of og question Select one: Keep inventory levels high Invest idle cash. Delay payment of liabilities, Increase collection of receivables Clear my choice Q ed A cheque in the amount of $425 was returned by the bank marked "NSE. A bank service fee of $20 was charged for processing the returned cheque Upon notification of the NSF, the company who initially received the customer's cheque will most likely tar H QUIZ 1 2 1011 Finish atten Select one: O reverse the customer's payment on their books to re-establish the accounts receivable for $425 and debit bank charges expense for the bank service fee of $20. O make no changes to the accounting records but advise the customer that the payment was declined and is still outstanding O reverse the customer's payment on their books to re-establish the accounts receivable for $425. reverse the customer's payment on their books to re-establish the accounts receivable for $425 and debit the accounts receivable for the bank service fee of $20. Clear my choice Time left OL Which of the following statements is true? Of tion Select one: Control activities are most effective when several people are responsible for a given task A good system of internal control does not require monitoring When one individual is responsible for all related activities the potential for errors and irregularities is decreased Risk assessment is one component of a good system of internal control Clear my choice ht