91) As they are less liquid than cash, cash equivalents cannot be reported on the same line as cash. 92) Cash is the item that is budgeted most often. 93) On the balance sheet numerous bank...

91) As they are less liquid than cash, cash equivalents cannot be reported on the same line as cash.

92) Cash is the item that is budgeted most often.

93) On the balance sheet numerous bank accounts and time deposits can be combined and identified on one line as cash and cash equivalents.

94) A budget may be used as an evaluation instrument, where managers compare actual figures during the year with budgeted figures for the same time period.

95) Cash budgets are published as a part of the external financial statements.

96) The Canadian Securities Commission developed a strategy incorporating some of the sox rules for Canadian public companies. Discuss what requirements were incorporated into the Certification of Discloser in Issuers' Annual and Interim filings.

97) Managers must control the operations of their business. A plan of internal control is designed to help management maintain control of a business and its operations. What are the key elements of a plan of internal control?

98) Define internal control. Who is responsible for establishing an effective system of internal control? What is the major constraint of any system of internal control?