Quiz Ch 04 – Understanding Petty Cash Fund Management
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which statement is true about the management of a petty cash fund?
Which statement is true about the management of a petty cash fund?
What is meant by the term “tone at the top”?
What is the term used to describe the fraudulent act of company managers making false and misleading entries in the books to improve financial statements?
Which is NOT an objective of internal control?
Which of the following options is not a valid reason to consider Electronic Fund Transfer (EFT) as an important internal control measure?
What is the internal control system objective that does NOT belong to the group?
What benefits do individuals who commit fraudulent financial reporting intend to gain, and how does this fraudulent activity serve their purposes?
Given the bank reconciliation, identify and explain whether the employee stole from the company or not and point out which shows the company’s true cash balance.
Fill in the blanks to explain when a person has custody of an asset and the accounts for the asset.