Question: Please answer them dear tutor. I appreciate it. Thank-you so much 11. Alaking Co. received cash to be held in trust for Ambit Co. under

Please answer them dear tutor. I appreciate it. Thank-you so much

Please answer them dear tutor. I appreciate it.
11. Alaking Co. received cash to be held in trust for Ambit Co. under an escrow agreement. How should Alaking Co. report the amount received in its financial statements? a. as part of cash b. as a liability C. as an asset and a liability as an off-balance sheet item that is disclosed in the notes 12. Under the imprest system of handling petty cash funds, the petty cash fund account is credited when a. disbursement is made out of the fund. b. the fund is replenished. c. the fund is not replenished and the fund is adjusted for the disbursements during the period. d. the imprest balance of the fund is increased. 13. When a bank receives cash from a depositor, the bank credits which of the following accounts? a. Cash on hand b. an appropriate income account C. Cash in bank d. Deposit liability 14. The policies and procedures used to safeguard assets, ensure accurate business information, and ensure compliance with laws and regulations are called . voucher system. b. bank reconciliation. c. internal controls. d. proof of cash. 15. Which of the following is not considered an internal control over cash? a. rotating duties among employees with cashier responsibilities b. separating the responsibilities for cash custody and cash recording c. management's operating style d. voucher system 16. It is a fund that is used to pay relatively small amounts. a. pretty cash fund b. small fund c. cute little cash fund d. petty cash fund

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