Merchandising companies do not need as good a system of internal control as service companies.
Correct Answer:
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Q47: The taking of a physical inventory is
Q48: One of the best ways to control
Q49: A petty cash fund is established for
Q50: It is usually a good business practice
Q51: When a petty cash fund is replenished,the
Q53: When a petty cash fund is established,the
Q54: On a bank reconciliation,interest income would be
Q55: Cash equivalents are usually listed as short-term
Q56: An effective system of internal control centralizes
Q57: When the balance of a petty cash
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