Question

Match the following statements to the appropriate terms. Segregation of duties. Cash that is not available for general use, but instead is limited to a particular purpose. Two or more employees circumventing prescribed procedures. Prevent a transaction from being recorded more than once. Checks which have been returned by the maker's bank for lack of funds. Checks which have been paid by the depositor's bank. A projection of anticipated cash flows. Anything that a bank will accept for deposit. Physical control devices. A basic principle of cash management.

Answer 1

Match the following statements to the appropriate terms. Segregation of duties Custody of an asset should be kept separate from the record-keeping for that asset Cash that is not available for use, but is Restricted cash restricted for a particular purpose Two or more employees circumventing Collusion prescribed procedures Prevent a transaction from being recorded | Prenumbered documents more than once Checks which have been returned by the NSF checks maker's bank for lack of funds Checks which have been paid by the Cancelled Checks depositor's bank

A projection of anticipated cash flows cash budget | anything that a bank will accept for deposit cash Physical control devices television monitors, sensors and burglar alarms A basic principle of cash management invest idle cash Insurance protection against bonding employees misappropriation of assets Document indicating the purpose of a petty petty cash receipt cash expenditure Issued checks that have not been paid by outstanding checks the bank Highly liquid investments cash equivalents