Multiple Choice
If the month-end bank statement shows a balance of $36,000, outstanding checks are $12,000, a deposit of $4,000 was in transit at month end, and a check for $500 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is
A) $27,500.
B) $28,500.
C) $20,500.
D) $43,500.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Control over cash disbursements is improved if
Q23: Internal auditors<br>A) are hired by CPA firms
Q105: On October 1, 2010, Herman Company establishes
Q106: Tavarez Company assembled the following information in
Q112: Match the internal control principle below with
Q153: Related selling activities do not include<br>A) ordering
Q163: Internal control is defined in part as
Q181: When opening a bank checking account a
Q186: In general documents should be prenumbered and
Q227: Allowing only the treasurer to sign checks