The document prepared by a department requesting the company to buy something is called a(n): Invoice Purchase order Purchase requisition Receiving report According to the FASB conceptual framework, which of the following is an essential characteristic of an asset? An asset is obtained at cost An asset is tangible An asset provides future benefits The claims to an asset's benefit are legally enforceable A result of a separation of duties is that: Operations become extremely inefficient because of constant training of employees More employees will need to be bonded Theft by employees becomes impossible Theft is possible only if several employees scheme together Which of the following items will NOT appear on the books side of the bank reconciliation statement? A nonsufficient funds check of $75 returned to the bank The bank charged a service fee of $20 The bank collected a note receivable of $ 1, 000 The bank recorded a $2, 000 deposit as $200 The double-entry system. Requires that each transaction be recorded with at least one debit and one credit Requires that total amount of debits must always equal total amounts of credits Is based on the principal of duality All of these choices. The account Allowance for Uncollectible Accounts is classified as a(n) Contra account to Accounts Receivable Contra account to Uncollectible Accounts Expense Expense Liability