The bank statement reveals an EFT, a debit memorandum, which is the company's monthly mortgage payment. How would this information be included on the bank reconciliation?

Question 5 options:

	A deduction on the book side
	A deduction on the bank side
	An addition on the bank side
	An addition on the book side

Which of the following is possible due to online banking?

Question 6 options:

	The depositor can request a paper bank reconciliation at any time.
	The bank reconciliation is not necessary.
	A company's book balance will always equal the bank's balance.
	The depositor can reconcile to the bank's balance at any time.

Which of the following describes the internal control component "monitoring of controls"?

Question 11 options:

	Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
	Monitoring of controls is the "tone at the top" of the business.
	Monitoring of controls is designed to ensure that the business's goals are achieved.
	A company must identify its risks.