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NEW QUESTION: 1
You want to reconcile the amounts you have in a main bank G/L account in your system with the daily bank statement. You create a single intermediate G/L bank account for each bank.
All transactions with the bank are posted through the intermediate account. Which of the following indicators do you have to activate in the G/L account characteristics of the intermediate account?
There are 2 correct answers to this question.
Response:
A. Reconciliation account for account type Bank
B. P&L statement account
C. Line item display
D. Post automatically only
E. Open item management
Answer: C,E

NEW QUESTION: 2
You should always use root credentials.
Choose the correct answer:
A. False
B. True
Answer: A
Explanation:
You use an access key (an access key ID and secret access key) to make programmatic requests to AWS. However, do not use your AWS account (root) access key. The access key for your AWS account gives full access to all your resources for all AWS services, including your billing information. You cannot restrict the permissions associated with your AWS account access key.
Reference:
http://docs.aws.amazon.com/IAM/latest/UserGuide/best-practices.html

NEW QUESTION: 3
The best reason for separating the cash-receiving function from the related record-keeping function is to:
A. Segregate cash payments from cash receipts.
B. Improve physical security over the cash-receiving function.
C. Provide accountability for cash received.
D. Minimize misappropriations in cash receipts.
Answer: D