Control of Cash Receipts & Disbursements

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

_____ are rules and regulations that are put into place to guard the assets owned by a person or a company.

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1. What is the term for money received from consumers from the sale of goods or services?

2. What is the term for monies paid out to individuals for the purchase of items that are needed and used by a company?

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About This Quiz & Worksheet

Using knowledge of the process by which a company protects its monetary assets, students answer financial questions in this quiz/worksheet combo. Topics that the quiz will cover include the business asset that is most vulnerable to fraud and money that is given to individuals for materials the company needs.

Quiz & Worksheet Goals

This quiz/worksheet combo can be used to assess your knowledge of:

  • What money received from a consumer for a good or service is called
  • Rules that are in place to protect a company's assets
  • The term for separating a big task into many smaller jobs to be completed by many individuals

Skills Practiced

  • Making connections - use understanding of the concept of the most fraud-prone business asset
  • Knowledge application - use your knowledge to answer questions regarding money that businesses receive from a consumer for a good or service
  • Information recall - access the knowledge you have gained regarding the regulations that exist to protect a company's assets

Additional Learning

The lesson entitled Control of Cash Receipts & Disbursements is a great resource if you want to learn more about this topic. Objectives the lesson will help you with include:

  • Understand how breaking up a big task into smaller tasks helps a business
  • Identify the stages a business must protect its most vulnerable asset at
  • Determine how money given out to people to buy goods a company needs is regulated
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