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Which of the following b true? a. Internal controls are unnecessary when key employees are bonded. b. The practice of separating duties prevents an employee from both approving a refund and disbursing the cash. c. Experienced accounting clerks need not use prenumbered documents. d. Administrative controls would limit access to physical assets but not to accounting records. A company can protect itself from dishonest employees by obtaining a. a signature card. b. a certified check. c. a fidelity bond. d. an outstanding check. The unadjusted bank balance on May 31 was exist5.200. The unadjusted cash account balance was exist4.790. The following information was available: Deposits in transit, exist550 Credit memo, exist600 of interest earned Outstanding checks, exist360 Certified check, exist50 The true cash balance on May 31 was a. exist5, 390. b. exist5, 200. c. exist4, 790. d. none of the above. Use the following information to answer the next three questions. Ellis Company started the year with a exist4, 600 accounts receivable and a exist150 balance in the allowance for doubtful accounts. The company had credit sales of collections on accounts receivable of exist13,000, and wrote off uncollectible accounts of exist200 during the year. The comp believes that 2 percent of its credit sales will be uncollectible. The balance in the accounts receivable account at the end of the year would be a. exist3, 600. b. exist3, 400. c. exist3, 250. d. exist4, 360. The amount of uncollectible accounts expense appearing on the year's income statement would be a. exist532. b. exist332. c. exist240. d. exist440. The net realizable value of receivables at the end of the year would be a. exist3, 210. b. exist3, 350. c. exist3, 250. Under the allowance method, recording the write-off of an uncollectible account will have what effect on the equation? a. Total assets decrease and equity decreases b. Total assets remain unchanged. c. Total assets increase and equity decreases. d. Liabilities increase and equity decreases

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