题目内容

If a bank statement includes an EFT receipt of $200 for interest, the journal entry to record this reconciling item should include a:

A.debit to Cash for $200 and a credit to Interest Revenue for $200.
B.debit to Accounts Receivable for $200 and a credit to Interest Revenue for $200.
C.debit to Interest Revenue for $200 and credit to Cash for $200.
D.debit to Interest Expense for $200 and credit to Prepaid Interest for $200.

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Corbin Company was charged $25 for a check printing fee associated with their checking account. What journal entry is required?

A.Debit Miscellaneous Expense for $25 and credit Accounts Payable for $25.
B.Debit Miscellaneous Expense for $25 and credit Accounts Receivable for $25.
C.Debit Miscellaneous Expense for $25 and credit Cash for $25.
D.No journal entry is required.

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WhichisNOTanobjectiveofaninternalcontrolsystem?

A. Safeguardingofassets
B. Compliancewithcompanypolicies
Compliancewithlegalrequirements
D. Riskminimization

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Internalcontrolsaredesignedtoaccomplishfiveobjectives–complywithlegalrequirements,promoteoperationalefficiency,safeguardassets,encourageemployeestofollowcompanypolicyand:

A. preventembezzlement.
B. preventcollusion.
C. ensureaccurate,reliableexternalaudits.
D. ensureaccurate,reliableaccountingrecords.

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ThePublicCompanyOversightBoardwascreatedtooversee:

A. theSEC.
B. theauditsofnon-profitorganizations.
C. theauditsofpubliccompanies.
D. theFASB.

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If a bank statement includes an EFT receipt of $200 for interest, the journal entry to record this reconciling item should include a:

A.debit to Cash for $200 and a credit to Interest Revenue for $200. B.debit to Accounts Receivable for $200 and a credit to Interest Revenue for $200. C.debit to Interest Revenue for $200 and credit to Cash for $200. D.debit to Interest Expense for $200 and credit to Prepaid Interest for $200.

Corbin Company was charged $25 for a check printing fee associated with their checking account. What journal entry is required?

WhichisNOTanobjectiveofaninternalcontrolsystem?

Internalcontrolsaredesignedtoaccomplishfiveobjectives–complywithlegalrequirements,promoteoperationalefficiency,safeguardassets,encourageemployeestofollowcompanypolicyand:

ThePublicCompanyOversightBoardwascreatedtooversee:

A.debit to Cash for $200 and a credit to Interest Revenue for $200.
B.debit to Accounts Receivable for $200 and a credit to Interest Revenue for $200.
C.debit to Interest Revenue for $200 and credit to Cash for $200.
D.debit to Interest Expense for $200 and credit to Prepaid Interest for $200.