《会计学》（第7版）习题答案.pdfVIP

Chapter

InternalControlandCash

/QuickCheck

Answers:

1.c3.c5.c7.c.b

2.d4,d6.d8.b10.d

Explanations:

8.b.Adjustedcashbalanceis$650($770-Servicecharge

$20-NSFcheck$100)

NShortExercises

(5min.)S8-1

Safeguardingassetsismostimportantbecauseall

organizationsneedassetstosurvive.

(5min.)S8-2

Sarbanes-Oxleyreuirespubliccompaniestoissueaninternal

controlreport,andtheoutsideauditormustevaluatethe

clientsinternalcontrols.

(5-10min.)S8-3

Separationofdutiesisessentialforsafeguardingassets.The

personwhohascustodyofanassetshouldnotalsoaccount

fortheasset.Withbothduties,thepersoncanstealtheasset

andhidethetheftbymakingafalseentryintheaccounting

records.

544Accounting7/eSolutionsManual

(5min.)S8-4

Differences:

1.Externalauditorsareentirelyindependentofthebusiness.

Internalauditorsareemployeesofthebusiness.

2.Externalauditsaredesignedtodeterminewhetherthe

companysfinancialstatementsarepreparedinaccordance

withgenerallyacceptedaccountingprinciples.

Internalauditsaredesignedtoensurethatemployeesfollow

companypoliciesandthatoperationsrunefficiently.

Similarity:

1.Bothtypesofauditorssuggestimprovementsthathelpthe

businessrunmoreefficiently.

2.Bothtypesofauditorsdeter