Question Details

Management 1A Week 9 Quiz 8 CHAPTER 8 PART 12

COMPLETION STATEMENTS
	206.	Internal control consists of the related methods and measures adopted to ____________ its assets and enhance the ______________ and ______________ of its accounting records.


	207.	The three main factors that contribute to fraudulent activity are depicted by the _______________.


	208.	The principle of internal control that prevents one individual from being responsible for all the related activities of a given task is ______________.


	209.	The ______________ of an asset should not have access to the accounting records of that asset.


	210.	Employees of a company who evaluate the effectiveness of the company's system of internal controls on a year-round basis are called ______________.


	211.	Using _______________ documents is a control measure which helps in accounting for all documents in a series and also prevents a document from being recorded more than once.


	212.	Employees who handle cash should be ______________ in order to protect against misappropriation of assets by dishonest employees.


	213.	Two limitations of systems of internal control are the concept of ______________ and the ______________.


	214.	Internal control over cash disbursements is more effective when payments are made by ______________, rather than by ______________.


	215.	A disbursement system that uses wire, telephone, computers, etc., to transfer cash from one location to another is referred to as ______________.


	216.	A voucher is recorded in the ________________ and filed according to the date on which it is to be paid.


	217.	A __________________ fund is used to pay relatively small expenditures.


	218.	A debit memorandum issued by the bank ______________ the cash balance in the depositor's account.


	219.	There are three parties to a check: (1)_______________, (2)______________, and the (3)______________.


	220.	The difference between the cash in bank balance shown on the company's books and the cash balance shown on the bank statement may be caused by ______________ and by ______________ in recording transactions by either party.

	221.	In preparing a bank reconciliation, outstanding checks are ______________ from the cash balance per ______________.


	222.	A check correctly written for $270 was incorrectly entered in the cash payments journal for $720. In preparing a bank reconciliation, $_____________ must be ______________ the cash balance per ______________.