Accounting Chapter 5

The source document for an electronic funds transfer is a memorandum?

• True

• False

In order to control cash, one common method is to ensure that cash payments are paid by pre-numbered checks.

• True

• False

A form showing proof of a petty cash payment.

• Petty Cash

• Check Stub

• Petty Cash Slip

• Checking Account

A blank account from which payments can be ordered by a depositor.

• Petty Cash

• Checking Account

• Debit Card

• Code of Conduct

A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.

• Electronic Funds Transfer (EFT)

• Debit Card

• Credit Card

• Dishonored Check

A check with a future date on it.

• Old date

• Special date

• Current date

• Postdated check

An endorsement consisting only of the endorser's signature.

• Blank Endorsement

• Endorsement

• Special Endorsement

• Restrictive Endorsement

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

• Dishonored Check

• Debit Card

• Bank Statement

• Credit Card

Businesses use petty cash when writing a check is not time or cost effective.

• True

• False

When the petty cash fund is replenished, the balance of the petty cash account increases.

• True

• False