What is the primary advantage of using traditional cheques for payments? * 1 point A) They are not portable. B) They require an active computer network. C) They offer tangible evidence of payment. D) They require a physical visit to the bank. 7. What is the purpose of a petty cash fund? * 1 point A) To make large payments B) To manage payroll C) To handle small cash expenses D) To facilitate bank transfers 8. What should be done if the adjusted bank statement balance and the adjusted chequebook balance do not agree during bank reconciliation? * 1 point A) Stop the reconciliation process. B) Make adjustments based on personal preferences. C) Identify and rectify any discrepancies. D) Ignore the differences and proceed with the next month's reconciliation