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Author Question: Who is legally responsible for establishing and maintaining an adequate system of internal control? ... (Read 108 times)

jparksx

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on: Jul 5, 2018
Who is legally responsible for establishing and maintaining an adequate system of internal control?
 a. the board of directors
  b. stakeholders
  c. investors
  d. management

Question 2

X Company used the following items to complete its bank reconciliation for the month of October:
 
   Deposits in transit were 2,500.
   Outstanding checks totaled 1,100.
   Bank service charges were 10.
   The company correctly wrote a check for 192, but mistakenly recorded the check as 129 on its books. The bank cashed the check correctly for 192.
   A customer's check for 50 was returned by the bank, NSF.
 
  The 2,500 deposit in transit should be ________.
  A) added to the balance per bank statement
  B) deducted from the balance per bank statement
  C) added to the balance per books
  D) deducted from the balance per books


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SamMuagrove

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Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

A


jparksx

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Reply 2 on: Jul 5, 2018
Gracias!

upturnedfurball

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Reply 3 on: Yesterday
Excellent

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