1. Physical controls to safeguard assets do not include a. cashier department su
ID: 2595385 • Letter: 1
Question
1. Physical controls to safeguard assets do not include a. cashier department supervisors b. vaults c. safety deposit boxes. d. locked warehouses. 2lf employees are bonded a, it means that they are not allowed to handle cash. b. they have worked for the company for at least 10 years c they have been insured against misappropriation of assets. d. it is impossible for them to steal from the company. 3. A bank statement a. lets a depositor know the financial position of the bank as of a certain d b. is a credit reference letter written by the depositor's bank. c. is a bill from the bank for services rendered. d. shows the activities that increased or decreased the depositor's accou 4. Which of the following would not be included in the definition of cash? a. Money on deposit in a bank. b. Coins. c. NSF checks. d. Petty cash. 5. Liabilities are classified on the balance sheet as current or a. deferred. b. unearned. c. long-term. d. accrued. An exception to disbursements being made by check is acceptable when ca a. to an owner. b. to employees as wages c. from petty cash. d. to employees as loans.Explanation / Answer
1. The correct answer is Option A i.e. Cashier Department Supervisors.
2. The correct answer is Option C i.e. They have been insured against misappropriation of assets.
3. The correct answer is Option D i.e. Shows the activities that increased or decreased the depositor's account balance
4. The correct answer is Option C i.e. NSF Checks
5. The correct answer is Option C i.e. Long term
6. The correct answer is Option C i.e. from Petty Cash.
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