An NSF check for $17.50 would be recorded as an increase to Cash and a decrease to Accounts Receivable.

Which of the following is an example of applying the least privileges rule?

Recording depreciation expense applies to three classes of assets: land, buildings, and equipment.

Cash equivalents include money market accounts, commercial paper, and U.S. treasury bills held for ninety days or less.

Assume that at the end of the day, the cash register tape shows a balance of $635. However, the cash drawer has a balance of $650. This difference should be recorded as an increase to Miscellaneous Expense.

On the New York Stock Exchange, the transfer of stock from one corporation to another corporation requires not only disclosure of that transfer on the date of record, but also requires the approval of the SEC under certain circumstances.

A bank reconciliation is generally prepared by the bank and sent to the depositor along with canceled checks.

The balance in accumulated depreciation represents the total cost that has been charged to expense since placing the long-term asset in service.

When completing a bank reconciliation, items listed as additions or as deductions of cash on the balance per bank side of the reconciliation will require journal entries for these respective increases and decreases.

Which of the following is a general-purpose OS that can be categorized as standalone?