A check is a document ordering the depositor to pay cash from the bank's account.

A check is a document ordering the depositor to pay cash from the bank's account.
 a. True
   b. False
   Indicate whether the statement is true or false

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(Q. 2) If a company's expenses for the period are greater than its revenues, then the company will report ________.
 
  A) net income
  B) a decrease in cash
  C) a net loss
  D) both a decrease in cash and a net loss

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(Q. 3) The arrangements between buyer and seller as to when payments for merchandise are to be made are called
 a. credit terms
  b. net cash
  c. cash on demand
  d. gross cash

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(Q. 4) Reliable information can be verified.
 
  Indicate whether the statement is true or false

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(Q. 5) Establishing and maintaining a viable internal control system is the responsibility of management.
  Indicate whether the statement is true or false

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(Q. 6) Net income means the same thing as net ________.
 
  A) expenses
  B) revenues
  C) cash
  D) profit