21) The drawer writes the check.

 

22) The drawee of the check is the person receiving the money.

 

23) The drawee of a check is normally the bank.

 

24) A deposit ticket usually separates checks deposited from coin and currency deposited.

25) Phishing occurs when a bank customer receives an email requesting personal information.

 

26) What is the purpose of internal control?

 

27) List at least five company policies that would be included in an internal control system.

 

28) List and describe some of the electronic conveniences that we are now provided when doing our banking.

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement on which the account balance is reported, and in Column 4 the nature of the account (permanent/temporary).

 

Example:

 

Column 1

Column 2

Column 3

Column 4

Cash

Asset

Debit

Balance Sheet

Permanent

 

 

29)

 

Column 1

Column 2

Column 3

Column 4

Petty Cash

 

 

 

 

 

 

30)

 

Column 1

Column 2

Column 3

Column 4

Misc. Expense

 

 

 

 

 

 

 

 



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