For Each of the Following, Identify in Column 1 the Category

question 79

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column 2 } & \text { Column 3 } & \text { Column 4 } \\\hline \text { Supplies } & & & & \\\hline\end{array}$$

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Definitions:

Risk Assessment

The process of identifying, analyzing, and evaluating the likelihood and impact of risks on a project or organization.

Control Procedures

Policies and procedures that are put in place by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Beginning Balance

The amount of funds or value of an account at the start of a new financial period.

Cash Account

An account in a brokerage or financial statement that shows the amount of cash available for transactions.