Describe the following types of cash accounts: (a) General checking accounts, (b) Cash management accounts, (c) Imprest
Question:
(a) General checking accounts,
(b) Cash management accounts,
(c) Imprest payroll accounts,
(d) Petty cash accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
a General Checking Accounts A general checking account is used for most cash transactions The organizations regular cash receipts and disbursements ar...View the full answer
Answered By
Pramod Choudhary
As a College Lecturer in Computer Science at Marinduque College, I have hands-on experience in tutoring and teaching students in computer science-related subjects, including programming languages, database systems, software development, and other relevant topics, and I am proficient in adapting my teaching methods to meet individual learning styles and needs.
0.00
0 Reviews
10+ Question Solved
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Question Posted:
Students also viewed these Auditing questions
-
Describe the following types of cash management techniques: (a) Lockboxes, (b) Electronic funds transfers, (c) Cash management agreements, (d) Compensating balances.
-
Describe the following types of computer software and their importance to processing and controls: Operating systems software Communications software Application program software Access control...
-
The following types of internal controls are commonly used by organizations for property, plant, and equipment: 1. A fixed asset master file is maintained with a separate record for each fixed asset....
-
In order to have $391,185 in 26 years, how much needs to be deposited each month into a bank account whose annual rate is 1.8% with monthly compounding?
-
A 1.8-m3 rigid tank contains steam at 220oC. One-third of the volume is in the liquid phase and the rest is in the vapor form. Determine (a) The pressure of the steam, (b) The quality of the...
-
Look again at the Salk polio vaccine Case Study. What was the treatment? Which group of children constituted the treatment group? Which constituted the control group?
-
A mutual fund has provided investment yield rates for five consecutive years as follows: Determine \(r_{1}\) and \(r_{2}\), the lag 1 and lag 2 autocorrelation coefficients. Determine \(r_{1}\) and...
-
Suppose that Bigco is currently trading for $100 per share. We know that in one year Bigco stock will sell for either $150 per share (good day) or for $75 per share (bad day). No other prices are...
-
a. What resources are shared among different threads in a multithreaded process? (10 points) b. Describe two differences between user-level and kernel-level threads. In what circumstances is one...
-
Calculate and compare the equivalent annual costs of (a) Overhauling and operating the Vital Spark for 12 more years, (b) Buying and operating the proposed replacement vessel for 20 years. What...
-
MULTIPLE-CHOICE QUESTIONS 1. Which of the following is a common example of trend analysis of accounts and ratios that the auditor might consider for cash accounts? a. Compare monthly cash balances...
-
Match the following assertions with their associated description: (a) Existence or occurrence, (b) Completeness, (c) Rights and obligations, (d) Valuation or allocation, (e) Presentation and...
-
Use vectors to determine graphically the type of solution for each of the sets of equations below: unique solution, an infinite number of solutions, or no solution. For the cases of unique solutions,...
-
The following information applies to the inventory of Carsons Camera Store as at 30 June 2019. Required (a) Calculate the ending inventory value as at 30 June 2019, applying the lower of cost and net...
-
On October 15, 2018, Richards Oil Corporation acquired a lease for $600,000. Richards decided not to drill on the lease during the first year. Wishing to retain the lease, Richards paid a delay...
-
Burnout Oil Corporation uses the full cost method. Recently, the company acquired a truck costing $60,000 with an estimated life of five years (ignore salvage value). The foreman drives the truck to...
-
Using the information in this chapter, label each of the following statements true, false, or uncertain. Explain briefly. a. The saving rate is always equal to the investment rate. b. A higher...
-
Convergence between Japan and the United States since 1960 The Bureau of Labor Statistics has a user-friendly Web site of GDP per capita at...
-
What is an access specifier?
-
QUESTION 2 The CEO of Farisha Hijab Sdn Bhd insisted on further investigation to be carried out that he also required Mr Muaz to conduct the analysis of variance for the material and labour of the...
-
A study [5] of the housing market in Fishers, Indiana, looked at 15 matched pairs of houses that were sold or rented in 2005. Table 10.3 shows the sale price for each house, the size of the house...
-
Daniel Morse is auditing cash payments for Maloneys, a large supermarket. Maloneys deals with several very large corporate suppliers who expect payment by electronic funds transfer within three...
-
Cactus Credit Union (CCU) is a regional credit union with 8 branches across the state. CCU leases its premises and buys furniture, such as waitingarea chairs and back-office desks, through a central...
-
Stella Black has been appointed as senior audit manager of the accounts receivable area in the statutory audit of Vast Vessel Voyages (VVV), a company operating leisure cruises from ports on the...
-
Jet Airways borrowed $1,000,000 for one year to improve its liquidity. Jet Airways paid back the principal and interest of $1,060,000 at the end of the year. What is the dollar amount of interest and...
-
if the cost of attending the university is $40,000 per year due at the beginning instead of the end of each year for four years, how much do you have to deposit in a lump sum to be able to pay for...
-
Financial Analysis Case This case can be assigned as a group activity. Additional instructions and material for this activity can be found on the Instructor Resource site and in WileyPLUS. Kenmare...
Study smarter with the SolutionInn App