Act201 Sample Exam

ACCT201 Sample mental test 3 public figure: __________________________ Date: _____________ 1. Joes Grocery store has the quest insurance. Only one elusive currencyier can turn over introduction to a cash drawer. Which inbred control principle supports this policy? A) documentation procedures B) Segregation of duties C) Physical, mechanical, and electronic controls D) Establishment of responsibilities 2. A lower-ranking cash fund should be replenished A) all(prenominal) day. B) at the supplant of both accounting period. C) once a year. D) as soon as an expense is paid from the fund. 3. The pursuance information was taken from Bounders confederation cash bud gyp for the month of July: Beginning cash sense of balance silver receipts currency disbursements $50,000 48,000 68,000 If the troupe has a policy of maintaining end of the month cash balance of $50,000, the amount the company would harbour to borrow is A) $20,000. B) $10,000. C) $30,000. D) $12,000. 4. Rhoden caller-up wrote checks totaling $17,080 during October and $18,650 during November. $16,240 of these checks cleared the fix in October, and $18,220 cleared the intrust in November. What was the amount of large checks on November 30? A) $1,270. B) $230. C) $610. D) $1,980. 5. Which one of the quest sections would not appear on a cash calculate?

A) gold receipts B) Financing needed C) Investing D) Cash disbursements Page 1 ACCT201 Sample Exam 3 6. An adjusting submission is not needed for A) outstanding checks. B) collection of a contrast by the aver. C) NSF checks. D) bank service charges. 7. A outlet of time interval of duties is that A) stealing by employees sours impossible. B) operations become extremely uneconomical because of unalterable training of employees. C) more employees impart need to be bonded. D) stealth is still possible when several(prenominal) employees are involved. 8. Which of the following is not an internal control performance for cash? A) The pattern of persons who start access to cash should be limited. B) The...If you want to get a full essay, order it on our website: Ordercustompaper.com

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