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4] Once an effective internal control system ! in place, mon.loting employees and systems is no longer required. TRUE OF FALSE ") When a hank debits your account, it is decreasing the balance TRUE OI FALSE 10) When a bank credits your account, It is increasing the balance. TRUE OR FALSE 11) What is the purpose of internal contml? Explain: 12) The bank statement shows Al the beginning bank balance of the cash at the start of the mouth. Bj the cheques the bank has paid and any deposits received. C) any other charges or additions to the bank halamer. Dj All of these answers are cutrect. 13) Marcella Industries received a credit memorandum from the bank. During the bank rerunciliation they should A) increase their cash account on the company's books D) decrease their cash account on the company's books. C) increase the ending cash balance on the bank statement. Dj decrease the ending cash balance on the bank statement. 14) Calculate, from the following information accumulated by Vera Freese, the adjusted cash balance at the end of April. Bank statement ending cash balance 43,000 General ledger cash balance ending 4,250 Bank monthly service charge 15 Deposits in transit 2.500 Outstanding cheques 1.500 NSF cheque returned with bank statement 205