
Accounting Chapter 5: Cash control systems Study Guide
Authored by Mickenzie Watts
Other
9th - 12th Grade
Used 36+ times

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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Because cash transactions occur more frequently than other transactions, the chances for making recording erros affect cash are less.
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When a deposit is made in a bank account, the bank issues a receipt.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
There are four types of endorsements commonly used: blank, special, original, and restrictive.
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A check with a blank endorsement can be cashed by anyone who has possession of the check.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When writing a check, the first step is to prepare the check stub.
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Most banks do not look at the date the check is written and will withdraw money from the depositor's account anytime.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The amount of a check is written twice on each check.
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