chapter8a - Chapter 8 1. An organization uses internal...

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Chapter 8 1. An organization uses internal control to enhance the accuracy and reliability of its accounting records and to: A. safe guar d its asset s. B. prev ent frau d. C. prod uce corre ct finan cial state ment s. D. deter empl oyee dish ones ty. 2. The principles of internal control do not include: A. estab lish ment of resp onsi bilit y.
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B. docu ment ation proc edur es. C. man age ment resp onsi bilit y. D. inde pend ent inter nal verif icati on. 3. Physical controls do not include: A. safes and vault s to store cash. B. inde pend ent bank reco ncili ation s.
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C. lock ed ware hous es for inve ntori es. D. bank safet y depo sit boxe s for impo rtant pape rs. 4. Which of the following items in a cash drawer at November 30 is not cash? A. Mon ey orde rs. B. Coin s and curr ency . C. A cust omer chec k date d Dece mber 1.
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D. A cust omer chec k date d Nov emb er 28. 5. Permitting only designated personnel to handle cash receipts is an application of the principle of: A. segr
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chapter8a - Chapter 8 1. An organization uses internal...

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