- Why should a company establish an internal control structure? - Why are mechanical devices used in an internal control structure? - Identify some features that could strengthen an internal control structure. >Name several control documents used in merchandise transactions. > What are the four objectives sought in effective cash management? - List four essential features of internal control over cash receipts. - The bookkeeper of a given company was stealing cash received from customers in payment of their accounts. To conceal the theft, the bookkeeper made out false credit memos indicating returns and allowances made by or granted to customers. What feature of internal control would have prevented the thefts? - List six essential features of internal control over cash disbursements. - What types of items cause the balance per ledger and the balance per bank statement to disagree? > "The difference between a company's Cash account balance and the balance on its bank statement is usually a matter of timing. " Do you agree or disagree? Why? - Explain how transfer bank accounts can help bring about effective cash management. > Describe the operation of a petty cash fund and its advantages. Indicate how control is maintained over petty cash transactions