Cash Control Systems Chapter 5

Checks are listed on a deposit slip

• In increasing amount order

• In decreasing amount order

• according to the bank routing number on each check

• as on sum with an accompanying calculator tape

A statement that guides the ethical behavior of a company and its employees is called a(n)

• employee handbook

• code of conduct

• code of ethics

• mission statement

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

• statement

• checking account

• depositor's account

• savings 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 the cash is recieved

No journal entry is needed for deposits

• True

• False

An endorsement is

• a signature on the back of a check transferring ownership

• a stamp on the back of a check transferring ownership

• confined to a limited amount of space that is indicated on the back of a check

• All of the above answers are correct.

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 the above are correct

Ownership of a check can be transferred only once

• True

• False

Checks are listed on a deposit slip in the amount order from least to greatest.

• True

• False

The endorser provides no guarantee of the payment of the check

• True

• False