Question: Explain the relationships among the initial assessed level of control risk, tests of controls for cash disburse-ments, and tests of details of cash balances. Give one example in which the conclusions reached about internal controls in cash disbursements would affect the tests of cash balances

Answer:

Question: Why is the monthly reconciliation of bank accounts by an independent person an important internal control over cash balances? Which individuals would generally not be considered independent for this responsibility?

Answer:

Question: Link to Notes

Answer: http://www4.semo.edu/gjohnson/AC437/chapter%20notes/chapter23_notes.htm

Question: Explaiun the relationships among the initial assessed control risk, tests of controls and substantive tests of transactions for cash receipts, and the tests of details of cash balances

Answer:

Question: What is meant by an imprest bank account for a branch operation? Explain the purpose of using this type of bank account..

Answer: