Oncethecompanyreceivestheinventory,itpreparesa(n)________tolistthegoodsreceived.
A. invoice
B. purchaseapprovalform
C. receivingreport
D. EFTtransfer
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Abudgethelpscontrolcashby
A. developingaplanforcashreceiptsandcashpayments.
B. coordinationbusinessactivities.
C. helpingtodeterminewhetheradditionalcashisavailableforinvestmentornewfinancingneeded.
D. alloftheabove.
IfabankreconciliationincludedanEFTpaymentof$670forinsurance,theentrytorecordthisreconcilingitemwouldincludea:
A. credittoprepaidinsurancefor$670
B. credittocashfor$670
C. debittocashfor$670
D. noentryisrequired
Ifabookkeepermistakenlyrecordedan$85depositas$58,theerrorwouldbeshownonthebankreconciliationasa:
A. $27additiontothebookbalance
B. $27deductionfromthebookbalance
C. $85deductionfromthebookbalance
D. $85additiontothebookbalance
Abankreconciliationincludedanoutstandingcheckof$850forthepaymentofsalaries.Thejournalentrytorecordthisreconcilingitem:
A. shoulddebitsalariesexpenseandcreditcashfor$850
B. shoulddebitcashandcreditsalariesexpensefor$850
C. shoulddebitaccountspayableandcreditcashfor$850
D. isnotrequired.
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