Which company has the highest ability to repay its current liabilities?
Which company has the highest ability to repay its current liabilities?
Pioneer Corp.
Which of the following is a common tactic to overcome internal controls?
Collusion
Which of the following is included in the internal control procedure?
The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.
Which of the following describes the environment in internal control?
Which of the following describes the environment in internal control? The environment is the “tone at the top” of the business.
What should be done if a mistake is made while filling out a check?
Terms in this set (19) What should be done if a mistake is made while filling out a check? Void the check and file it with cancelled checks. A check stub, or register, should be filled out every time a check is written.
Is it OK to use white out to fix a mistake when writing checks in pen?
It is OK to uses “white out” to fix a mistake when writing checks in pen. And you can at times forget to write down a payment you make with your checking account or debit/ATM card. so, you’re less likely to overdraw your account if you always keep a hundred dollar balance.
Is it OK to scribble out a mistake on a check?
If you’ve made a mistake when writing a check, it’s usually safest just to void the check and start a new one. If this isn’t an option or your mistake is fixable, draw a neat line through your mistake and write the correction right above it. Initial your correction to help authenticate it.
Is it OK to use white out on a check?
Do not use white-out on a check. Fraudulent checks are a serious issue for banks, so they’re on the lookout for suspicious behavior. Completely hiding a mistake is considered suspicious behavior and could have consequences beyond the check being voided.
What is it called when you write a check for more money than you have in your account?
overdraft. A check written for more money than your account contains.
How large can a personal check be?
There is no dollar limit on personal checks. As long as the funds are available in your bank account, and a personal check is an accepted method of payment, you can write a check for any amount. That said, in many cases a cashier’s check may be a more desirable method of payment for large purchases.
