61.An element of internal control is
a.risk assessment
b.journals
c.subsidiary ledgers
d.controlling accounts
62.A necessary element of internal control is
a.database
b.systems design
c.systems analysis
d.information and communication
63.Which of the following should
notbe considered cash by an accountant?
a.money orders
b.bank checking accounts
c.postage stamps
d.travelers' checks
64.The cash account in the company's ledger is a(n)
a.asset with a normal debit balance
b.asset with a normal credit balance
c.liability with a normal debit balance
d.liability with a normal credit balance
66.The debit balance in Cash Short and Over at the end of an accounting period is reported as
a.an expense on the income statement
b.income on the income statement
c.an asset on the balance sheet
d.a liability on the balance sheet
67.Procedures designed to protect cash from theft and misuse from the time it is received until it can be deposited in abank are called
a.accounting controls
b.cash controls
c.FASB controls
d.GAAP controls
68.A special form on which is recorded pertinent data about a liability and the particulars of its payment is called a(n)
a.invoice
b.voucher
c.debit memo
d.remittance advice
69.EFT
a.means Efficient Funds Transfer
b.can process certain cash transactions at less cost than by using the mail
c.makes it easier to document purchase and sale transactions
d.means Effective Funds Transfer
70.A voucher is usually supported by
a.a supplier's invoice
b.a purchase order
c.a receiving report
d.all of these