Answer:
A. Restrict access
C. Establish responsibility
D. Document procedures
B. Independently verify
Explanation:
A. Restrict access, as the password is set to address the cash register, that is a security is being provided, and this is because, there is a restricted access, for the safety purpose.
C. Establish responsibility - As the treasurer is held liable of making and receiving any checks, and that he is the person who shall monitor such things, related to transactions in checks.
D. Document procedures - since a list is prepared for the checks received in mail, it is mere preparation of records and documentation of what checks are received and what not.
B. Independently verify - Bank Reconciliation Statement is prepared to verify the transactions and match the balance in books with that of the bank pass book.
The banking-related entity shares similarities with the purpose and function of the ncua is " Federal Credit Union".
<h3>
What do you mean by NCUA?</h3>
The term NCUA is defined as the National Credit Union Administration. It was established on 10 March, 1970.
Moreover, NCUA insures credit union accounts. while the FDIC provides federal insurance for bank accounts.Both the Federal credit union and NCUA come with the same limits on insurance coverage.
Adding to it, the Credit unions were gaining popularity and popping up all over America, but it was only in the 1930s that the credit union movement achieved federal recognition and national acceptance.
Learn more about NCUA, refer to the link:
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Answer:
The correct answer is letter "A": a physical inventory is taken at the end of the period.
Explanation:
When the general ledger is only updated by the end of a period it is said that the firm is using a periodic inventory system. This approach is implemented because physical inventories could be time-consuming. It is even more helpful for small businesses since their inventory is limited.
