12) Internal control over a company's assets should include the following policy: A) Responsibilities and duties of employees will be divided. B) All cash receipts will be deposited into the bank the same day they arrive. C) All cash payments will be made by cheque (except petty cash). D) All of these answers are correct. 13) A deposit received by the bank will include A) a debit to the company's bank account. B) a credit to the company's bank account. C) no increase or decrease is made to the company's bank account. D) a credit to the cash account on the company's books. 14) Using correct cash handling procedures, deposits should be made by the end of the week. Answer: TRUE OR FALSE 15) All banks use the same format for their bank statements. Answer: TRUE OR FALSE 16) Advantages of online banking include A) convenience. B) transaction speed. C) effectiveness. D) All of the above are correct. 17) Outstanding cheques A) have been subtracted on the bank records but not the chequebook records. B) have not been presented to the bank for payment and have not been subtracted from the company's ledger account. C) have not been presented to the bank for payment but have been subtracted in the ledger account. D) have been returned to the business for nonpayment. 18) How would outstanding cheques be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance? A) They would be added to the balance of the bank statement. B) They would be subtracted from the balance of the bank statement