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Which would be deducted from the cash balance per books

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Reference no: EM133000060

Problem 1: Which of the following would be deducted from the cash balance per books on a bank reconciliation?

a.Service charges

b.Deposits in transit

c.Notes collected by the bank

d.Outstanding checks

Problem 2: When there are major changes in strategy, senior management, business structure, or operations, evaluations of controls are usually performed by _____.

a.supervisors

b.internal auditors

c.directors

d.management

Problem 3: Which of the following is true of EFT?

a.It can process certain cash transactions at less cost than by using the mail.

b.It is easy to document purchase and sale transactions.

c.It means Effective Funds Transfer.

d.It cost more than receiving cash payments through the mail.

Reference no: EM133000060

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