ACC205 Week 2 – PowerPoint & Quiz: Chapter 4
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Question 1
1 / 1 pts
Cash control refers to insuring everyone has access to the petty cash drawer so they can make change when needed.
True
False
Question 2
1 / 1 pts
A bank reconciliation by someone external to the cash process is considered an internal control.
True
False
Question 3
1 / 1 pts
Petty cash is the primary account for a firm to pay bills out of.
True
False
Question 4
1 / 1 pts
The Direct Write-off method of bad debt recognition is not recognized by GAAP as acceptable.
True
False
Question 5
1 / 1 pts
The Allowance Method of recognizing bad debt expense is not recognized as GAAP acceptable.
True
False
Quiz Score: 5 out of 5
ACC205 Week 2 – PowerPoint & Quiz Answer
