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Nov 28

Operating cash flows would include which of the following? Which of the following adjusts the company's balance of cash in a bank reconciliation? Operating cash flows include which of the following? Cash sales to customers. Operating cash flows would include which of the following? D. Selling goods or services to customers. The actual performance of individuals or processes should be checked against their expected performance. d. Cash sales to customers. When preparing a bank reconciliation, outstanding checks would be: Investing cash flows include which of the following? Payment for land. Employee fraud is less likely to occur when access to assets and access to accounting records are separated. All of these factors could contribute to a high ratio of cash to noncash assets. Damon Company receives its monthly bank statement, which reports a balance of $2,000. Published financial statements may be incorrect because of, Currency, coins, and checking accounts are considered cash, whereas short-term highly liquid investments of 3 months or less are considered, A(n) _________ difference in cash occurs when a company records a transaction either before or after the bank records the same transaction. Repayment of long-term borrowing to the bank. b. question now and for free without signing up. Payment for advertising. Which of the following is considered cash for financial reporting purposes? What is the concept behind separation of duties in establishing internal controls? Management should periodically determine whether the amounts of physical assets of the company match the accounting records. Cash sales to customers. Which of the following generally would be considered good internal control of cash disbursements? a. Which of the following generally would not be considered good internal control of cash receipts? Payment of dividends to stockholders. 34) Which of the following would be included in cash flows from investing activities? Cash received from the issuance of common stock. Provide cash on hand for minor expenditures. Financing cash flows include which of the following? Which of the following adjusts the company's balance of cash in a bank reconciliation? individuals who have physical responsibility for assets should not have access to accounting records. What is a direct purpose of internal controls? (B) Cash used to purchase equipment. When the cash account is updated for items that affect the company's cash balance, the entry will include, Because cash normally is assumed to be available for spending, it is usually classified on the balance sheet as a(n) __________ ____________. A company's own cash records show a balance of $3,200. authorizing transactions, recording transactions, and maintaining control of the related assets should be separated among employees. When preparing a bank reconciliation, outstanding checks would be: At any given time, the amount of cash in the petty cash fund should equal: The established balance of the fund less all vouchers written during the accounting period. Cash received from the issuance of common stock. What is the concept behind separation of duties in establishing internal control? c. Cash sales to customers. C)Paying dividends to stockholders. Which of the following describes the financing activities section of the statement of cash flows A--it includes the increases and decreases of long term assets B--It includes interest and dividend income and cash payments for interest expense C-- It reports on activities … Not a cash flow. Section 404 of the Sarbanes-Oxley Act requires companies to: Corporate executive accountability under the Sarbanes-Oxley Act requires corporate executives to: Personally certify the company's financial statements. Financing cash flows would include which of the following? Checks written by the company but not yet recorded by the bank. Purchase of office supplies with cash. Set maximum purchase limits on debit cards and credit cards. B. After comparing this to the company's cash records, Damon's accountants determine that deposits outstanding total $4,200 and checks outstanding total $4,450. Investing cash flows would include which of the following? (Enter only one word. B)Purchase of land. Purchase of a building with cash. Purchase of office supplies with cash. Investing cash flows in the statement of cash flows would include which of the following? or debt, known as CED; Dividend payments or CD; Repurchase of debt and equity, or RP; This formula is then used to calculate the total cash flow balance: Financing Activities Cash Flow = CED – (CD + RP) Investing cash flows would include which of the following? Which of the following adjusts the bank's balance of cash in a bank reconciliation? vendors -> operating activity, The company should maintain security over assets and accounting records. Money earned on the average daily balance of the checking account. 58. Management periodically determines whether the amount of physical assets agree with the accounting records. Investing cash flows would include which of the following? Purchase of office supplies with cash Investing cash flows would include which of the following? After examining the bank statement, the following information is revealed: When preparing a bank reconciliation, nonsufficient funds (NSF) checks would be: Subtracted from the company's cash balance. Purchase of office supplies with cash.-Providing services to customers on account is considered a(n): Financing cash flow. After examining the bank statement, the following information is revealed: When preparing a bank reconciliation, nonsufficient funds (NSF) checks would be: Subtracted from the company's cash balance. Operating cash flow. A) Cash dividends paid. For the current year, the company's statement of cash flows reports operating cash inflows of $90,000; investing outflows of $110,000; and financing inflows of $40,000. Employee fraud is less likely to occur when access to assets and access to accounting records are separated. What amount of cash will be reported in the current year's balance sheet? the ending balance of cash in the accounting records. Effective internal control over cash includes the requirement that: The person who makes deposits should NOT record the deposits. How would this item be treated on the bank reconciliation, Largo Corp. discovered $2,000 for an NSF check in its bank reconciliation. A. Internal control is a company's plan to (1) improve the accuracy and reliability of accounting information and (2) safeguard the company's assets. Cash received from the sale of a used company truck. Payment of cash dividends to stockholders. Cash sales to customers. Sarbanes-Oxley Act (SOX) was passed in response to: Corporate scandals involving unethical behavior of top executives.

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