Accounting Question! Please Help!?
a) add to the book balance
b)subtract from the bank's balance and add to the book balance
c)add to the bank's balance
d)subtract from the bank's balance
e)subtract from the book balance
2Which of the following statements is FALSE?
a) Banks do not help companies control cash.
b)Banks are a source of cash financing.
c)Banks safeguard cash.
d)Banks provide detailed and independent records of cash transactions.
3Internal control systems are:
a)Developed by the Securities and Exchange Commission for public companies.
b)Developed by the Small Business Administration for non-public companies.
c)Developed by the Internal Revenue Service for all U.S. companies.
d)Required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange.
e)Required only if a company plans to engage in interstate commerce.