Next > Question 36 View Policies Current Attempt in Progress Which of the following statements is false? O A cash budget will help determine if additional financing will be necessary. O A basic principle of cash management is to increase the speed of paying liabilities. O A company should plan the timing of major expenditures in light of its operating cycle. O A key principle of cash management is to increase the speed of collection on receivable Save for Later Sunny Sky Corporation gathered the following reconciling information in preparing its August bank reconciliation: $18,200 4,500 Cash balance per bank, August 31 Note receivable collected by bank Outstanding cheques Deposit in transit Bank service charge NSF cheque 10,825 6,700 40 750 The reconciled cash balance per bank at August 31 is $ 14,075. $ 9.575. $18,575. $ 17,785. Save for A system of internal control can only provide reasonable assurance, which is based on the belief that the human element is not important. the system can always detect errors and irregularities. the system is infallible. O the costs of establishing control activities should not be greater than their expected benefit. Save for Later Attempts: 0 of 1 used Submit