Which of the Following Is an Accurate Statement Regarding Cash

question 2

Multiple Choice

Which of the following is an accurate statement regarding cash receipts over the counter?

• A) The point-of-sale terminal electronically transmits a record of the sale to the store's main computer.
• B) Employees should take the deposit to the bank.
• C) The cashier should reconcile the electronic record of the sales per the terminal to the record of cash received.
• D) Point-of-sale terminals cannot assist in inventory control.

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Definitions:

Ratio

A quantitative relation between two amounts showing the number of times one value contains or is contained within the other.

Liabilities

Financial obligations a company owes to outside parties, such as loans, accounts payable, and bonds payable.

Stockholders' Equity

The portion of a company's capital that comes from the investment of its shareholders, represented by the shares issued to them.

Profitability

The degree to which a company or business activity makes a profit, typically measured over a specific period of time.