Bank service charge
Petty cash fund
Deposits in transit
Electronic funds transfer (EFT)
For each item below, enter in the blank the term that is described.
Resources that consist of coins, currency, checks, money orders, and money on hand or on deposit in a bank or similar depository.
Short-term, highly liquid investments that can be converted to a specific amount of cash.
A cash fund used to pay relatively small amounts.
All of the related methods and measures adopted within an organization to safeguard its assets and enhance the accuracy and reliability of its accounting records.
A fee charged by a bank for the use of its services.
A monthly statement from the bank that shows the depositor”s bank transactions and balances.
A written order signed by a bank depositor directing the bank to pay a specified sum of money to a designated recipient.
Minimum cash balances required by a bank in support of bank loans.
Checks issued and recorded by a company not yet paid by the bank.
Deposits recorded by the depositor but not yet recorded by the bank.
A check that is not paid by a bank because of insufficient funds in a customer”s bank account.
A disbursement system that uses wire, telephone, telegraph, or computer to transfer funds from one location to another.
Company employees who continually evaluate the effectiveness of the company”s internal control system.
An extensive network of approvals by authorized individuals acting independently to ensure that all disbursements by check are proper.
An authorization form prepared for each payment in a voucher system.
Obtaining insurance protection against misappropriation of assets by employees.
The process of comparing the bank”s balance of an account with the company”s recorded cash balance and explaining any differences to make them agree.
Cash that must be used for a special purpose.
Regulations passed by Congress to try to reduce unethical corporate behavior.
A dishonest act by an employee that results in personal benefit to the employee at a cost to the employer.
The three factors that contribute to fraudulent activity by employees: opportunity, financial pressure, and rationalization.
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