Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.

Q: Design a report to assist in managing credit sales and cash collections.

A: Managing credit sales The term "credit sales" refers to the transfer of ownership of goods and…

Q: What specific information would you need to begin a cash receipts forecast?

A: Cash receipt forecast is a forecast of cash receipts i.e. cash being received by the company.   A…

Q: In what manner can cash receipts and cash disbursements be controlled?

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Define cash equivalents, and explain methods of controlling cash, including bank reconciliations.

A: Solution- Cash equivalents are investments securities that are meant for short-term investing; they…

Q: Describe reconciliation with change in cash balance.

A: A cash flow statement is used to reconcile with change in cash balance. It shows the cash flow in…

Q: What is contra entry in cash book? How is it recorded?

A: Meaning of Contra-EntryIn the dual entry accounting system, a contra entry is an entry which is…

Q: What's the difference between a cash business and cash accounting?

A: A business that runs primarily on cash transactions is known as a cash business. The business may…

Q: Why is careful management of accounts receivable and accounts payable so essential to ensuring…

A: Accounts receivables are resources that are generally classified as current assets, implying that…

Q: Discuss the main activities which generate cash and to which cash is paid

A: The cash flow statement is prepared to record the cash inflow or outflow from the business under…

Q: The importance of cash inflow and cash outflow in financial management

A: Cash flows are very important in the business and cash flow must be sufficient to sustain the…

Q: Non-business cash receipts should be included on a cash flow statement.   A.   True B.   False

A: Non business cash receipt means a receipt which is not related with business i.e it is related with…

Q: How to calculate balance c/d when preparing an adjusted cash book?

A: Cashbook adjustments are used to correct input errors or adjust miscellaneous debits or credits in…

Q: "recorded cash sales" what accounts are used

A: When we sell anything to the customer in cash then cash account debits and revenue of an entity will…

Q: owing? Select one: a. Income and cash flow

A: The  right answer is option b. Cash balances and cash flows.

Q: Explain TWO (2) audit objectives of cash.

A: Audit is a regular and systematic process to investigate books of account by auditors for accuracy…

Q: What is the primary difference between cash and accrual accounting?

A: The business revenues and expenses can be recorded on the basis of cash or accrual.

Q: 6) Identify and receipts and

A: Answer; Cash receipts are the receipts that are received by company on account of any sales or…

Q: Define cash receipts journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

Q: What is a "proof of cash? What purpose does it serve?

A: A four-column bank statement prepared by auditors is called proof of cash. It has a detailed…

Q: he amount of cash that is actually expected to be collected on accounts receivable is referred to…

A: The balance sheet represents the financial position of the business with assets, liabilities and…

Q: Accrual accounting provides important information about cash. Select one: True False

A: Accrual accounting records income and expenses when the transaction occurs. Whereas cash accounting…

Q: What are the common internal controls over cash receipts and cash disbursements?

A: Introduction: Internal control relates to a company's policies and plans, as well as extra efforts…

Q: 1. Discussed in this chapter is the Imprest System. What is it and how does it help in managing…

A: Financial management involves planning and controlling the financial activities of the organization…

Q: infer from  Statement of cashflow

A: