FinMan10e_ABSol_ch07

FinMan10e_ABSol_ch07 - 11. N, J, K 12. E TEST 7B Problem 1...

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ACHIEVEMENT TEST SOLUTIONS—CHAPTER 7 TEST 7A Problem 1 Bank Reconciliation 1. A 2. D 3. D 4. C 5. D 6. A 7. B 8. C 9. C 10. B Fill-in-the-Blank Principles and Terminology 1. internal controls 2. purchase order 3. supplier’s invoice 4. receiving report 5. petty cash fund 6. compensating balance 7. liquid 8. notes to financial statements 9. signature card 10. Cash Short and Over 11. control environment 12. control procedures 13. detective controls 14. Other Expense Problem 2 Analysis of Transactions Debit Credit 1. A 2. E, I 3. O 4. E 5. E, F 6. Q 7. E 8. M 9. B 10. E
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Unformatted text preview: 11. N, J, K 12. E TEST 7B Problem 1 Financial Statements 1. D 2. C 3. B 4. C 5. D 6. D 7. A 8. C 9. B 10. D Fill-in-the-Blank Principles and Terminology 1. $12,446 2. $12,700 3. credit 4. expense 5. Sarbanes-Oxley 6. (3) 7. (4) 8. internal control 9. detective controls 10. drawer 11. drawee 12. payee 13. remittance advice 14. adjusted balance Problem 2 Analysis of Transactions Debit Credit 1. I 2. A 3. A 4. E, I 5. A 6. E 7. E 8. Q, F 9. J, K 10. E 11. E 12. H, M...
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