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WorksheetsHarisenin.com Quiz Day 3
Total questions: 10
Worksheet time: 5mins
The short-term, highly liquid investments
that are readily convertible to known amounts of cash and
that so near their maturity is the definition of..........................................
Bank Overdrafts
Restricted Cash
Cash Equivalents
Which of the following is a cash equivalent?
Government Paper
Notes Payable
Certificates of Deposit
The money that is restricted as to its withdrawal or
usage and therefore not available for immediate or general business
use.
Bank Overdraft
Restricted Cash
Cash Equivalent
The representations by management, explicit or otherwise, that are embodied in
the financial statements, which we use to consider the different types of potential
misstatements that may occur are the definition of ......................................
Liquidity
Assertions
Cash accounts
Which of the following is the focus of an audit of cash for most companies?
General Cash Account
Payroll Cash Account
Petty Cash
Which of the following items on a bank reconciliation would require an adjusting entry on the company’s books?
An error by the bank
A bank service charge
interest on account
The objective of performing a proof of cash as auditor is
All deposits in the bank were recorded in the accounting records
All recorded cash disbursements were paid by the government
All recorded cash receipts were charged
The following are the common controls over cash, except................
Segregation of duties
Computerized control totals and edits tests
Perform an overall estimate of depreciation expense
Which of the following is not a basic characteristic of a system of cash control?
Usage of voucher system
Usage of installment system
Combined responsibility for handling and recording cash
Which of the following cycles does not affect cash in bank?
Inventory and warehousing
Capital acquisitions cycle
Payroll and personnel Cycle
