Which of the following is an electronic funds transfer system (EFTS) service?   Group of answer choices a. Overdraft protection b. Automatic transfer program c. Preauthorized payments d. Stop payment e. Cashier's checks

Q: Which one of the following statements related to the control of cash disbursement is true? Payment…

A: Internal control procedures are those controls framed and implemented by a business to safeguard its…

Q: Cash flows are not automatically considered as annuities due to their following characteristics,…

A: Cashflow statement is a financial statements that summarize the cash and cash equivalents of the…

Q: Ina bank reconciliation statement, explain. A. Non-sufficient-funds (NSF) check B. What is a deposit…

A: Bank Reconcilation Statement Bank reconciliation is the process of  reconciling  of cash balance  as…

Q: The purpose of a petty cash fund is toa. Provide a convenient form of payment for the company’s…

A: Petty cash fund:   Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Calculator Entries are made to the petty cash account when Oa. replenishing the petty cash fund Ob.…

A: Petty cash account is opened to meet daily routine expenses which are very small.

Q: This test of details of transactions for cash balances involves the counting of all undeposited cash…

A: Accounting is the process of recording, classifying, and summarizing accounting transactions. This…

Q: Describe the features of voucher system in handling cash disbursements. What is voucher register?…

A:

Q: This test of details of transactions for cash balances involves the counting of all undeposited cash…

A: Accounting is the detailed process of recording, classifying, and summarizing accounting…

Q: Please give me an information about : cash reciepts, capital investments, loans, interest payment,…

A: Every feild had its own terminology. Same is with Accounting. Accounting has its own terminology,…

Q: Which of the following is a means of using receivables to obtain immediate cash?  a. Factoring b.…

A: Solution: "All of the above"  are means of using receivables to obtain immediate cash.

Q: The petty cash fund account under the imprest fund system is debited A. only when the fund is…

A: 1. Petty Cash - Petty Cash account is amount maintained by the organization to handle petty (small)…

Q: Look at these two sentences about Undeposited Funds: By posting to Undeposited Funds, you can…

A: Undeposited Fund: It is an account created by the company for receiving payments and before…

Q: (Based on Appendix 7A) How is a petty cash fund established? How is the fund replenished?

A: Petty cash fund:   Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: which one of the following statements doesn't describe the electronic fund transfer: Select one: a.…

A: Electronic Fund transfer - It is a method of sending money in which money can be sent from one…

Q: A petty cash fund is

A: Introduction: The petty cash book is a detailed record of tiny monetary transactions. Rather of…

Q: Distinguish between the roles played by investment banks andfinancial intermediaries in exchanging…

A: The question is based on the concept of role of financial intermediaries and investment banks in…

Q: Which of the following is correct? Cash disbursement function is for the accounts payable. Cash…

A: Cash disbursement: It refers to the outflow of cash paid in exchange for the provision of goods or…

Q: How is a petty cash fund established? How is the fund replenished?

A: Petty cash: A petty cash is a small amount of cash on hand maintained by the companies to pay the…

Q: Indentify some of key cash inflows and cash outflows?

A: Cash flows of the firm is the movement of cash to and from business. It includes all the inflows of…

Q: The Undeposited Funds account contains: A) Only partial payments received from customers B) Funds…

A: The undeposited funds account means ro show the amount of the other current assets in assets side of…

Q: What is the adjusted balance of the petty cash fund? What is the correct amount of cash and cash…

A: Petty cash fund is maintained for small petty expenses in the business. Cash and cash equivalent are…

Q: Which of the following should be considered cash equivalents? Post-dated checks Money market with…

A: Cash and cash equivalent means the amount of cash , bank or highly liquid marketable securities…

Q: Explain the posting process of the cash payments journal.

A: Cash payment Journal: A journal which is used to record cash payments by check and cash for the…

Q: The entry to establish the Change Fund includes which of the following?

A: The entry to establish the Change Fund includes a debit to change fund and credit to cash.

Q: ansactions between supp

A: Introduction : Financial markets can be defined as the marketplaces where fund providers as well as…

Q: Explain and answer the following questions below: 1. Explain the financial presentation and…

A: Cash refers to the currency and coins which is most liquid asset of the company which could possess.…

Q: Define cash disbursements.

A: Cash disbursement, also known as money installments, in auditing refers to installments made by an…

Q: How transactions between suppliers and users of funds take place. How would you prove that there was…

A: Financial markets are marketplaces where fund suppliers and fund demanders can do business.…

Q: Prepare Cash Disbursement for  purchases

A: Cash disbursement can be defined as the outflow of cash from the business. It arises due to…

Q: Which item is not considered cash and cash equivalents on the balance sheet? a. Unrestricted funds…

A: Cash equivalents are the near-cash items, which are readily convertible into cash. Cash equivalents…

Q: Which cash reconciling item could potentially affect either the bank statement or the general…

A: The bank reconciliation statement is prepared to match the balance of cash book and pass book.

Q: Which of the following is not true? a. The Petty Cash account is debited when the fund is…

A: Solution:- Given, Some options related to Bank and we have to find the what is not true in those…

Q: Describe about the Cash rebates obligation.

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: Which of the following is true of EFT? It is easy to document purchase and sale transactions. It…

A: Electronic Fund Transfer (EFT): Electronic Fund Transfer refers to transfer of funds from one bank…

Q: 2. For depository institutions, the most pressing demanding for spendable funds generally come from…

A: For depository institutions, the most 18 pressing demanding for spendable funds generally come from…

Q: Indicate how each of the items below should be reported using the following classifications: (a)…

A: Cash and Cash equivalent In the classified balance sheet the account details of cash and cash…

Q: The document that explains all the differences between the company’s cash records and the bank’s…

A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Q: With good internal controls, the person who handles cash can also a. account for cash payments. b.…

A:

Q: What Petty Cash involves, choose the best answer: Select one: O a. Borrow the fund, making payment…

A: Petty cash, also known as the petty cash reserve, is a small sum of cash on hand that is used to pay…

Q: explain the purpose of a change fund   explain how cash short and over can be miscellaneous expense

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following is a cash inflow from financing activities? Receipt from collections on notes…

A: The cash flow statement is prepared to find the net cash inflow or outflow from the business.

Q: cash control?

A: Correct Answer is B

Q: Cash received electronically through an electronic funds transfers (EFT)

A: Internal control represents the reasonable assurance that the employees of the company have not been…

Q: State and explain the reasons for the difference between cash book and bank statement

A: Definition:   Bank reconciliation: Bank statement is prepared by bank. The company maintains its own…

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.