Question
True or false? No explanation requried just true or false answers, thanks. Good internal accounting control requires that the person handling cash should also make
True or false? No explanation requried just true or false answers, thanks.
Good internal accounting control requires that the person handling cash should also make any related journal entries so that responsibility for cash can be assigned to one person.
True
False
At the end of an accounting period, the cash balance per bank statement on that date is usually the proper cash amount to show on the balance sheet.
True
False
Good internal accounting control over cash includes depositing all cash receipts in the bank each day.
True
False
Journal entries are required for all adjustments to the cash balance per bank statement in a bank reconciliation.
True
False
Disbursements from a petty cash fund should be made with checks that are prenumbered.
True
False
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