The Cashier Deposits Checks for Benedek Incorporated and Also Prepares

question 104

Multiple Choice

The cashier deposits checks for Benedek Incorporated and also prepares payments to vendors.Of the following,who is best able to reconcile the bank statement to Benedek's records on a regular basis?

• A)cashier
• B)internal audit department
• C)treasurer
• D)external auditor

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Definitions:

Budget Document

A detailed financial statement presenting a government's or organization's projected revenues and spending for a fiscal period.

Federal Budget Deficit

The financial situation where the federal government's expenditures surpass its revenues within a given fiscal year.

Automatic Stabilizers

Economic mechanisms, such as progressive taxation and welfare spending, that automatically adjust to mitigate economic fluctuations without the need for explicit government action.

Transfer Payments

Payments made by governments to individuals or other government entities without receiving any goods or services in return, such as welfare benefits or subsidies.