KRUG PRACTICE TEST ACCTG 1 - CHAP 8,9 and first part of 10 PRACTICE TEST -- The following is a practice test for Accounting 1, Chapters 8, 9 and 10a. It is only a representation of what the test could be like. It is not a guarantee in any way that ONLY these types of questions will be asked, on the number of questions, nor on the breakdown between multiple choice and problems. 1 Which of the following is a purpose of an internal control system? A) To promote efficient operations B) To urge adherence to company policies C) To protect assets. D) To ensure reliable accounting E) All of the above 2 At the end of the day, the clerk (who works at the cash register): (1) counts the money in the cash drawer, (2) records the amount of the count, (3) forwards a record of the count and the cash to the company cashier. This procedure does which of the following? A) Adheres to internal control principles B) Provides adequate internal control over cash C) Separates recordkeeping and the custody of assets D) Follows the broad principle of internal control of insuring assets E) All of the above 3 Management's ability to monitor and control business operations is greatly improved with a computerized accounting system because of all but which one of the following? A) Computers provide more rapid access to information B) Computers allow data to be presented in many different reports and formats C) Computers provide access to large quantities of information D) Data entry errors are alway ...
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