Corporate Financial Accounting (15th Edition)

Chapter 7

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(a) is incorrect because adding $90 to the bank ... more

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(a) is incorrect because checks are company ... more

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(a) is correct but not complete. During the bank ... more

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(a) is correct but incomplete ; (b) is correct but... more

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Organizational structure is set by the company's ... more

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A debit memo on the bank statement decreases the ... more

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20Y3: 353.220Y2: 276.9 ; Calculate the daily cash ... more

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It requires that all financial reports must state ... more

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a. I agree with F's decision on not to make a ... more

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Disagree. Large loans are more susceptible to risk... more

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Custody of assets, separation of duties and no ... more

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There was collusion between the employees of ... more

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Control procedures ; Purchases must be made by one... more

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Separation of responsibilities was not observed. ... more

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Cash sales are recorded by debiting cash and ... more

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Cash sales are recorded by debiting cash and ... more

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The company must implement a voucher system.... more

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Receiving reports must be completed for all ... more

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Deposits in transit are a typical example of a ... more

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Items 1, 2, 3 and 7 ; All the adjustments in the ... more

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To correct the cash balance, all the adjustments ... more

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The collection of the note and the corresponding ... more

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Petty cash fund is established to pay minimal ... more

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A person who handles cash receipts should not be ... more

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Separation of duties ; Control procedure is ... more

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In every organization, there must be checks and ... more

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The fraud could have been prevented if There was ... more

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invoice, purchase order, receiving report ; These ... more

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These are errors made by the company or bank or ... more

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The purpose of preparing a bank reconciliation ... more

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Hiring of external auditors to review the adequacy... more

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Different items can affect the balance of books ... more

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Petty cash fund is established to pay minimal ... more

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20Y8 = 234.920Y9 = 262.8 ; Calculate the total ... more

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The first entry is for the establishment of petty ... more

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3.weakness-This is a weakness because it lacks ... more

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In establishing a petty cash fund, cash balance is... more

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Tehra and her supervisor are not acting in an ... more

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J is not behaving in a professional manner. Once ... more

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To: All StaffFrom: Owner, Wholesome and Happy ... more

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Approving and payments of cash should not be done ... more

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