1. In large companies, the independent internal verification procedure is regularly assigned to

management.

You are watching: In large companies, the independent internal verification procedure is often assigned to

computer operators.

outside CPAs.

internal auditors.

2. Shandy Shutters has the complying with inventory information.

Nov.1Inventory15 units
$8.80

A physical count of merchandise perform on November 30 reveals that there space 50 units on hand.

assume a regular inventory device is used. Finishing inventory under FIFO is

$846.

$863.

$438.

$421.

3. I m sorry of the complying with would no be report on the balance sheet as a cash equivalent?

Sixty-day certificate the deposit

Money sector savings certificate

Six-month Treasury bill

Money industry fund

4. If a small cash money is established in the amount of $250, and contains $150 in cash and also $95 in receipts

for disbursements once it is replenished, the journal entry to record replenishment should incorporate credits to the following accounts

Petty Cash, $95.

Petty Cash, $100.

Cash, $100.

Cash, $95; Cash Over and also Short, $5.


Nov 12 2020 03:36 afternoon
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