Answered: tstanding checks

Business

Accounting

tstanding checks

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 5QY

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What are outstanding checks? Note: No plagiarism please.
Which of the following cannot be encashed but instead merely deposited? stale checkspost dated checksdishonored checkscrossed checks
FireballCompany requires that all documents supporting a check (purchase order, invoice, and receiving report) be canceled by punching a hole through the packet. Why is this practice required?What might happen if it were not?
What alternative procedures should be applied to accounts that do not return confirmations?
The need to physically check bills of lading and other documents can be eliminated by using RFID. Select one: a. True b. False
Do not copy the answer, if necessary
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Please without plagiarism and don't copy
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Which of the following control procedures mitigates the threat of duplicate payments? Select one: a. When an invoice is paid, the invoice and the entire voucher package should be canceled (for example marked “paid”) in a way that it cannot be submitted again. b. When evaluated receipt settlement (invoice-less system) is used, receiving reports need not be marked as paid as no invoices are generated. c. Photocopied invoices can be paid. d. Invoices should be approved for payment only when accompanied by a valid purchase order.
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