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R- ac8-1: What is the most effective tool to control cash?
R- ac8-2: What are the advantages of using a bank account?
R- ac8-3: What is the purpose of a bank reconciliation?
R- ac8-4: How is a bank reconciliation performed?
R- ac8-5: Why are there usually more than one cash account?
R- ac8-6: Describe the procedure to contral cash accounts.
R- ac8-7: What is the purpose of a voucher system?
R- ac8-8: How are electronic funds transfer affecting cash transactions?
- List the internal control procedures used to safeguard cash.
- "The cash balance on a company's books should always equal the cash balance shown by its bank." Do you agree? Explain.
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