197. Financial assets(a.) Briefly explain what is meant by the term "financial assets."(b.) List the three major categories of assets comprising a company's financial assets. For each category,...

197. Financial assets
(a.) Briefly explain what is meant by the term "financial assets."
(b.) List the three major categories of assets comprising a company's financial assets. For each category, indicate the basis for valuation in the balance sheet.

198. Internal control over cash transactions
(a.) Describe three measures contributing to strong internal control over
cash receipts.
(b.) Describe three measures contributing to effective internal control over
cash disbursements.