The North Port contractor is opening business banking controls for deposit procedures for owner checks. Which establishment record should be prepared?
Correct Answer
B) cash-receipts policy
Banking setup should document authority, electronic payment limits, and cash-handling policy.
Why This Is the Correct Answer
Banking setup should document authority, electronic payment limits, and cash-handling policy.
Why the Other Options Are Wrong
Option A: submittal log ownership review memo
submittal log ownership review memo puts the item in the wrong financial bucket, timing, base, or comparison for banking setup.
Option C: permit card office launch checklist
permit card office launch checklist puts the item in the wrong financial bucket, timing, base, or comparison for banking setup.
Option D: punchlist bonding support file
punchlist bonding support file puts the item in the wrong financial bucket, timing, base, or comparison for banking setup.
Memory Technique
Banking ledger for Controller Sets: put setup in the right drawer.
Reference Hint
Open-book path: tab Contractor's Manual, 2025 to Business banking setup; bank resolutions and cash controls; verify the startup duty, registration, or financial setup before answering.
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