Chapter 5 Cash Control Systems

In accounting, money is referred to as

• cash
• checks
• accounts receivable
• anything of value

A business form ordering a bank to pay cash from a bank account is known as a(n)

• format
• cash transfer
• check
• promissory note

A bank account from which payments can be ordered by a depositor is called a

• statement
• checking account
• saving's account
• despoistor's account

Cash receipts are journalized

• at the end of the month
• at the end of the week
• when the bank deposit is made
• at the time cash is received

No journalized entry is needed for deposits.

• true
• false

When you sign only your name to the back of a check it is known as a(n)

• blank endorsement
• special endorsement
• restrictive endorsement
• none of these.

Ownership of a check can be transfered only once.

• true
• false

A check with a future date on it is called a

• futures check
• postdated check
• cancelled check
• voided check

A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.

• deposit slip
• income statement
• balance sheet
• bank statement

An outstanding check is one that has been issued but not yet reported on a bank statement.

• True
• False