The Foreign Corrupt Practices Act requires that all U.S. corporation under the jurisdiction of the Securities and Exchange Commission must file reports with the National Commission on Fraudulent Financial Reporting. maintain accounting records of foreign branches and subsidiaries in the local foreign currency. have at least one foreign subsidiary. maintain an adequate system of internal control. Replenishing the petty cash fund requires a debit to Cash. a credit to Petty Cash. a debit to various expense accounts. no accounting entry. In preparing its August 31, 2010 bank reconciliation. Acme Corp. has available the following information: Balance per bank statement, 8/31/10 $21, 650 Deposit in transit, 8/31/10 3, 900 Return of customer's check not sufficient funds, 8/30/10 600 Outstanding checks, 8/31/10 2, 750 Bank service charges for August 100 At August 31, 2010, Acme's adjusted cash balance is $22, 200. $22, 800. $20, 500. $22, 100. Which one of the following is not an objective of a system of internal controls? Safeguard company assets Overstate liabilities in order to be conservative Enhance the accuracy and reliability of accounting records Reduce the risks of errors Joe is warehouse custodian and also maintains the accounting record of the inventory held at the warehouse. An assessment of this situation indicates establishment of responsibility is violated. segregation of duties is violated. independent internal verification is violated. documentation procedures are violated