1) Entries are made to the Petty Cash account when A

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1) Entries are made to the Petty Cash account when
A.    making payments out of the fund.
B.    recording shortages in the fund.
C.    replenishing the petty cash fund.
D.    establishing the fund.

2) The type of account and normal balance of Petty Cash is a(n)
A.    revenue, credit
B.    asset, debit
C.    liability, credit
D.    expense, debit
 
3) Cash equivalents
A.    are illegal in some states
B.    will be converted to cash within two years
C.    will be converted to cash within 90 days
D.    will be converted to cash within 120 days
4) A minimum cash balance required by a bank is called
A.    cash in bank
B.    cash equivalent
C.    compensating balance
D.    EFT
 
5) Which of the following would not be included with the Cash and Equivalents on the Balance Sheet?
A.    Commercial Paper
B.    Short-Term Receivables
C.    Certificates of Deposit
D.    Money Market Mutual Funds