Accounting 201 Rephrase in own words
GuamChapter 7
- What are the three factors of the fraud triangle that contribute to fraudulent activity by employees?
- Identify the six principles of internal control. Give examples of each principle. Discuss the limitations of internal control.
- List the steps in preparing a bank reconciliation. Prepare a bank reconciliation. Prepare the journal entries that result from a bank reconciliation.
- In which financial statement(s) is cash reported? Discuss restricted cash and negative cash balances.
- Discuss the five basic principles of cash management.
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