Exam 7: Fraud, Internal Control, and Cash
Exam 1: Accounting in Action189 Questions
Exam 2: The Recording Process151 Questions
Exam 3: Adjusting the Accounts187 Questions
Exam 4: Completing the Accounting Cycle170 Questions
Exam 5: Accounting for Merchandising Operations177 Questions
Exam 6: Inventories161 Questions
Exam 7: Fraud, Internal Control, and Cash164 Questions
Exam 8: Accounting for Receivables167 Questions
Exam 9: Plant Assets, Natural Resources, and Intangible Assets226 Questions
Exam 10: Liabilities230 Questions
Exam 11: Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings244 Questions
Exam 12: Investments128 Questions
Exam 13: Statement of Cash Flows158 Questions
Exam 14: Financial Statement Analysis178 Questions
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Electric Sunset Company gathered the following reconciling information in preparing its July bank reconciliation:
The adjusted cash balance per books on July 31 is

(Multiple Choice)
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The entry to replenish a petty cash fund includes a credit to
(Multiple Choice)
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A debit memorandum could show the collection of a note receivable by the bank.
(True/False)
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In the month of May, Kijak Company Inc. wrote checks in the amount of $56,000. In June, checks in the amount of $76,000 were written. In May, $50,000 of these checks were presented to the bank for payment, and $66,000 in June. What is the amount of outstanding checks at the end of June?
(Multiple Choice)
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Shane Company gathered the following reconciling information in preparing its April bank reconciliation:
The adjusted cash balance per books on April 30 is

(Multiple Choice)
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Internal control is defined, in part, as a plan that safeguards
(Multiple Choice)
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Under a voucher system, a prenumbered voucher is prepared for every
(Multiple Choice)
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Allowing only designated personnel to handle cash receipts is an example of
(Multiple Choice)
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Winter Gloves Company had checks outstanding totaling $12,800 on its May bank reconciliation. In June, Winter Gloves Company issued checks totaling $79,800. The July bank statement shows that $71,400 in checks cleared the bank in July. A check from one of Winter Gloves Company's customers in the amount of $2,000 was also returned marked "NSF." The amount of outstanding checks on Winter Gloves Company's July bank reconciliation should be
(Multiple Choice)
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The principle of establishing responsibility does not include
(Multiple Choice)
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The control principle related to not having the same person authorize and pay for goods is known as
(Multiple Choice)
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Having different individuals receive cash, record cash receipts, and hold the cash is an example of
(Multiple Choice)
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If a check correctly written and paid by the bank for $584 is incorrectly recorded on the company's books for $548, the appropriate treatment on the bank reconciliation would be to
(Multiple Choice)
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In preparing its August 31, 2015 bank reconciliation, Annie Corp. has available the following information:
At August 31, 2015, Annie's adjusted cash balance is

(Multiple Choice)
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Cash which is restricted for a specific use should be separately reported.
(True/False)
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