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SVEN [57.7K]
2 years ago
9

Match the following statements to the appropriate terms. Segregation of duties. select the appropriate term Cash that is not ava

ilable for general use, but instead is limited to a particular purpose. select the appropriate term Two or more employees circumventing prescribed procedures. select the appropriate term Prevent a transaction from being recorded more than once. select the appropriate term Checks which have been returned by the maker's bank for lack of funds. select the appropriate term Checks which have been paid by the depositor's bank. select the appropriate term A projection of anticipated cash flows. select the appropriate term Anything that a bank will accept for deposit. select the appropriate term Physical control devices. select the appropriate term A basic principle of cash management. select the appropriate term Insurance protection against misappropriation of assets. select the appropriate term Document indicating the purpose of a petty cash expenditure. select the appropriate term Issued checks that have not been paid by the bank. select the appropriate term Highly liquid investments.
Business
1 answer:
Assoli18 [71]2 years ago
3 0

Answer and Explanation:

The matching of the following statements to the appropriate terms :

1. Segregagtion of duties =  Property custody should be kept away from keeping records of such assets

2. Cash that is not available for general use, but instead is limited to a particular purpose = Restricted cash as it is used for specific purpose not for the general purpose

3. Two or more employees circumventing prescribed procedures = Collusion. It means there is a secret agreement in view to deceived others or mislead others

4. Prevent a transaction from being recorded more than once = Prenumbered documents. It means the documents like recepits, checks, invoices that are to be accounted which reduced the unauthorized transactions

5. Checks which have been returned by the maker's bank for lack of funds. = NSF checks. It is a non sufficent fund which represents that the account have does not contain sufficent funds

6.  Checks which have been paid by the depositor's bank = Cancelled checks. The checks which are cancelled due to insufficent balance or any other reason

7. A projection of anticipated cash flows.= Cash budget. It records all cash receipts and all cash payments related to the business transactions

8. Anything that a bank will accept for deposit = Cash. Cash is a more liquid assets that is shown in the current assets side of the balance sheet

9. Physical control device = Televison monitors, sensors, etc. These are the devices which are physically controlled

10. A basic principle of cash management = Invest idle cash. It refers to the cash which is not earned any value or neither it increased the value

11.  Insurance protection against misappropriation of assets = Bonding employees. This refers to protect employees against any losses, theft, etc

12. Document indicating the purpose of a petty cash expenditure = Petty cash recipts. It refers how much cash is used till date, etc

13. Issued checks that have not been paid by the bank = Outstanding checks. For this the treatment is that we have to show this in a negative sign while computing the adjsuted balance of bank balance

14. Highly liquid investments = Cash equiivalent. This include cash in hand, cash at bank, marketable securities which shows the highly liquid investment and the same is shown in the current asset side of the balance sheet

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Contribution margin ratio is the ratio of contribution to sales. Since the contribution margin ratio is 45%, it implies that variable costs are 55% of sales.

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