财务会计英语 练习及答案ch07.docVIP

Chapter 7—Cash Chapter 7—Cash PAGE 190 PAGE 171 CHAPTER 7 CASH Chapter 7—Cash TRUE/FALSE 1. Money orders are considered cash. ANS: T DIF: 1 OBJ: 01 2. A customers check received in settlement of an account receivable is considered cash. ANS: T DIF: 1 OBJ: 01 3. Businesses who have several bank accounts, petty cash, and cash on hand, would maintain a separate ledger account for each type of cash. ANS: T DIF: 1 OBJ: 01 4. For strong internal control system over cash, it is important to have the duties related to cash receipts and cash payments divided among different employees. ANS: T DIF: 2 OBJ: 02 5. When a clerk enters a sale and the customer can see the amount displayed and is given a cash receipt, this is an example of a preventive control. ANS: T DIF: 2 OBJ: 02 6. If the balance in Cash Short and Over at the end of a period is a credit, it indicates that cash shortages have exceeded cash overages for the period. ANS: F DIF: 1 OBJ: 02 7. If the balance in Cash Short and Over at the end of a period is a credit, it should be reported as an other income item on the income statement. ANS: T DIF: 1 OBJ: 02 8. An example of good internal controls over cash payments is the taking of all cash discounts offered. ANS: T DIF: 2 OBJ: 03 9. A voucher is a form on which is recorded pertinent data about a liability and the particulars of its payment. ANS: T DIF: 1 OBJ: 03 10. When the voucher system is used, the amount due on each voucher represents the credit balance of an account payable if the voucher is in full payment to a creditor. ANS: T DIF: 1 OBJ: 03 11. A voucher system is an example of an internal control procedure over cash payments. ANS: T DIF: 1 OBJ: 03 12. A voucher is a written authorization to make cash payment. ANS: T DIF: 2 OBJ: 03 13. A payment system that uses computerized electronic impulses to effect a cash transaction is called electronic funds transfer (EFT). ANS: T DIF: 1 OBJ: 03 14. A remittance advice is the notification accompanying