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  • If a bank statement included a bank collection and related interest revenue, the journal entry to record this reconciling item should include a: #721
  • If a bank reconciliation included deposits in transit amounting to $3,700, the journal entry to record this reconciling item: #722
  • If a bank statement includes an EFT payment of $945 for insurance, the journal entry to record this reconciling item should include a: #723
  • The type of fraud committed by employees of an entity who steal money from the company and cover it up through erroneous entries in the books is called: #724
  • The two most common types of fraud impacting financial statements are: #725
  • All of the following are purposes of internal control EXCEPT: #726
  • The company’s ___________ have/has the primary responsibility for establishing and maintaining a company’s system of internal control. #727
  • Which characteristic will NOT be found in an effective system of internal control? #728
  • Which of the following is a limitation of internal control? #729
  • Factors that would lead an employee to commit a lapping scheme include: #730
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