怀尔德《会计学原理》19版答案 (7).pdf

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1、Chapter8CashandInternalControlsQUICKSTUDIESQuickStudy8-1(10minutes)1.Themainobjectiveofinternalcontrolproceduresistosafeguardtheassetsofthebusiness.Thisobjectiveisbestaccomplishedbydesigninganoperationalsystemwithmanagerialpoliciesthatprotecttheassetsfromwaste,fr

2、audandtheft.Thesystemshouldbedesignedincompliancewiththesevenbroadprinciplesofinternalcontrolthataredescribedinthechapter.1.Separationofrecordkeepingforassetsfromthecustodyoverassetsisintendedtoreducetheftandfraud.Ifthisfundamentalprincipleisfollowed,therehastobe

3、collusionbetweentwoormoreemployeesforassetstobestolenandthethefttobeconcealedintherecords.2.Theresponsibilityforatransactionshouldbedividedbetweentwoormoreindividualsordepartmentstoensurethattheworkofoneactsasacheckontheother.Absentthis,someonecouldcreatefictitio

4、usinvoicesandpaythemoneytoherselforhimself.©McGraw-HillCompanies,2009SolutionsManual,Chapter8485QuickStudy8-2(10minutes)1.Thecashcategoryincludescurrencyandcoinsalongwiththeamountsondepositinbankaccounts,checkingaccounts,andsavingsaccounts.Cashalsoincludesitemsth

5、atareacceptablefordepositintheseaccountsincludingcustomerchecks,cashierchecks,certifiedchecks,andmoneyorders.2.Thecashequivalentscategoryincludesshort-term,highlyliquidinvestmentassetsmeetingtwocriteria:(1)readilyconvertibletoaknowncashamountand(2)sufficientlyclo

6、setotheirduedatessothattheirmarketvalueisnotsensitivetointerestratechanges.Usuallyonlyinvestmentspurchasedwithin3monthsoftheirduedatesatisfythesecriteria.ExamplesofcashequivalentsincludeU.S.Treasurybillsandmoneymarketfunds.3.Liquidityreferstoacompany’sabilitytopa

7、yforitsnear-termobligations.QuickStudy8-3(10minutes)1.Aliquidassetreferstoanassetthatcanbereadilyconvertedintoanothertypeofassetorbeusedtosatisfyanobligation.Acashequivalentisahighlyliquidshort-terminvestmentthatcanbereadilyconvertedtoaknownamountofcashandissuffi

8、cientlyclosetoitsmaturitydatesothatitsmarketvalueisrelativelyinsensitivetointerestratechanges.2.Companiesusuallyinvestidlecashincashequivalentstoearnahigherret