Please answer accounting matters.

Please answer all the questions.

$1)$ All of the following are purposes of internal control except to:

A$)$ prevent and detect error and fraud.

B$)$ ensure accurate and reliable accounting records.

C$)$ safeguard assets.

D$)$ promote operational inefficiency.

$2)$ Internal control is the organizational plan and related measures that:

A$)$ prevents the safeguard of assets. B$)$ ensures accurate accounting records.

C$)$ encourages operational inefficiency. D$)$ Eliminates errors and fraud.

$3)$ Separation of authorization of transactions from custody of related assets is related to proper separation of duties.

A$)$ True

B$)$ False

$4)$ Separation of duties and responsibilities is essential in the control procedures for both cash receipts and cash disbursements.

A$)$ True

B$)$ False

$5)$ The employee who processes cash payments should have nothing to do with the approval process. This is a part of which characteristic of internal control?

A$)$ competent, reliable, and ethical B$)$ properauthorization personnel

C$)$ separation of duties D$)$ assignment of responsibilities

$6)$ The cheques that have been paid by the bank on behalf of the depositor and included with the bank statement are called:

A$)$ cheques in transit. B$)$ cancelled cheques.

C$)$ outstanding cheques. D$)$ deposited cheques.

$7)$ An NSF cheque would be entered into the books by a debit to accounts receivable.

A$)$ True

B$)$ False

$8)$ Which of the following would be a reconciling item on the bank side of the reconciliation?

A$)$ non$-$sufficient funds cheque for $$75$ B$)$ service fee of $$20$

C$)$ collection of note receivable for $$1,000$ D$)$ bank recorded a $$2,000$ deposit as $$200$

$9)$ If a cash register is short by $$93,$ and the cash register tape equaled $$9,270,$ then:

A$)$ Sales Revenue is credited for $$9,177.$ B$)$ Cash Short and Over is debited for $$93.$

C$)$ Cash is debited for $$9,270.$ D$)$ Cash Short and Over is credited for $$93.$

$10)$ All of the following are controls over petty cash except:

A$)$ supporting all fund payments with a petty cash ticket.

B$)$ replenishing the fund through normal cash payment procedures.

C$)$ designating one employee to administer the fund.

D$)$ keeping an unlimited amount of cash on hand.