Question 1
Explain kiting, and discuss how it is performed.
Question 2
Match six of the terms (a-k) with the descriptions/definitions provided below (1-6).
| f. | imprest payroll account |
| g. | imprest petty cash fund |
| j. | standard bank confirmation form |
________ 1. a fund of cash maintained within the company for small cash acquisitions, expenses, or to cash employees' checks
________ 2. a form approved by the AICPA and American Bankers' Association through which the bank responds to the auditor about bank balance and loan information
________ 3. excess cash invested in short-term, highly liquid investments such as time deposits, certificates of deposit, and money market funds
________ 4. the primary bank account for most organizations
________ 5. the transfer of money from one bank account to another and improperly recording the transfer so that the amount is recorded as an asset in both accounts
________ 6. the document usually prepared by client personnel of the differences between the cash balance recorded in the general ledger and the amount in the bank account
Commonly Misspelled Medical Terms
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A flat-tip (straight-blade) screwdriver. The width of the blade should match the width of the slot ...
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A Radio Telescope in Green Bank, West Virginia