What are the different risks associated in the accounting of cash

Q: Why is the actual timing of cash inflows and outflows is ignored?

A: Cash inflows and cash outflows is the main integral part of the business. Without investment one can’t…

Q: Which of the following correctly describes how to reportcash?a. Restricted cash is always reported…

A: Cash: Cash is one of the most important current assets for any business entity. A current asset…

Q: What may be included under the heading of “cash”?

A: Current assets: Current assets are those assets owned by the company that can be convertible into…

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 amount should be reported as cash?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is the difference between the sources (in nows) and uses (out nows) of cash?

A: The question is based on the concept of cash flow statement and cash flow analysis for a particular…

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: The balance of Cash is likely to differ from the bank statement balance. What two factors are likely…

A: Bank Statement: A report or summary that records financial transactions of deposits and withdrawals…

Q: Explain the term Cash Equivalency?

A: It is an evaluation procedure by which the cost of comparable properties selling at various funding…

Q: Which of the following statements are true regarding the control of cash receipts and cash payments?…

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: How is Cash audited?

A:

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: Distinguish between the roles played by investment banks andfinancial intermediaries in exchanging…

A: The question is based on the concept of role of financial intermediaries and investment banks in…

Q: What is the adjusted balance of the petty cash fund? What is the correct amount of cash and cash…

A: Petty cash fund is maintained for small petty expenses in the business. Cash and cash equivalent are…

Q: Explain the possible restrictions on cash and their implications for classification in the balance…

A: Restricted Cash Restricted cash is define as the cash is not freely available for the company to…

Q: Define restricted cash and indicate how it should bereported on the balance sheet

A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the…

Q: In preparing a balance sheet, restricted cash goes under what heading?

A: Restricted cash is the amount of cash kept aside for some restricted purposes, to ensure that…

Q: What is the difference between cash receipts and cash payments?

A: Cash receipts refers to the collection of money recognized from the customers or from any other…

Q: What are the Important elements of a cash disbursement control system?

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Explain common techniques employed to control cash.

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: TRUE OR FALSE?

A: Liquid assets are the assets which can be converted in to cash with in a short period. These assets…

Q: classification of the cash

A: Word cash, paid, cheque is Given in Transaction then it will Deemed / Considered Cash Transactions.

Q: How do the direct and the indirect methods differ in their approach to computing the net cash…

A:

Q: Define cash disbursements.

A: Cash disbursement, also known as money installments, in auditing refers to installments made by an…

Q: What is the Relevant cash-now information?

A: Relevant cash- flow refer to after-tax gradual cash-flow anticipated from a proposed procurement or…

Q: What are the primary motives for holding cash?

A: Introduction: Cash is also recognized as most liquid and lesser productive assets of the company.…

Q: What types of policies, procedures and controls can companies put in place to safeguard, reconcile…

A: Cash: It is the money that is used for the revenue and capital expenditures of the organisation.

Q: Briefly explain useful tools and procedures for effectively managing cash

A: Cash management includes the action of collecting and managing the cash in the business. It is…

Q: Why is cash management important?

A: Cash management is a technique used to manage cash of the entity. It helps in managing the cash that…

Q: What is the principal disadvantage of the direct method of reporting cash flows from operating…

A: Cash flows from operating activities is an important section of cash flow statement which shows all…

Q: Which of the following should not be considered cash by an accountant

A: Cash is the most liquid form of asset which is important for the solvency of any company. It is…

Q: what apposing goals must be achieved in cash management?

A: Cash Management is the process of collecting the cash from various resources and effectively…

Q: What are the key factors that can lead to an under/overstatement of  the cash balance

A: Cash balance is the balance appearing in the Cash edger or Cash Books after all income and…

Q: cash transactions

A: When cash word , cheque word  are given in transaction are considered as cash transactions. Some…