State True or False(8)

1.Internal control devices for banking activities include signature cards, deposit slips, cheques, and bank statements.

2. Bank service charges are treated as a reconciling item on the book side of a bank reconciliation.

3. An NSF cheque for $17.50 would be recorded as a debit to Cash and a credit to Accounts Receivable.

4. The steps to reconcile the balance of the bank statement to the adjusted balance include adding outstanding cheques, deposits, and bank service charges to the bank balance.