Solved

Match the Items Below by Entering the Appropriate Code Letter

Question 130

Matching

Match the items below by entering the appropriate code letter in the space provided.

Premises:
Highly liquid investments
Physical control device
Prevent a transaction from being recorded more than once
Two or more employees circumventing prescribed procedures
Insurance protection against misappropriation of assets
Cheques which have been returned by the maker's bank for lack of funds
Segregation of duties
One to whom a cheque is payable
Bank charge for the use of its services
One who issues a cheque
Responses:
Cash equivalents
NSF cheques
Custody of an asset should be kept separate from the record-keeping for that asset
Bank service charge
Payee
Maker
Cash registers, garment sensors and burglar alarms are examples
Collusion
Bonding employees
Prenumbered documents

Correct Answer:

Highly liquid investments
Physical control device
Prevent a transaction from being recorded more than once
Two or more employees circumventing prescribed procedures
Insurance protection against misappropriation of assets
Cheques which have been returned by the maker's bank for lack of funds
Segregation of duties
One to whom a cheque is payable
Bank charge for the use of its services
One who issues a cheque
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