A Key Factor in a Voucher System Includes All of the Following

question 8

Multiple Choice

A key factor in a voucher system includes all of the following except:

• A)Only approved departments and individuals are authorized to incur an obligation that will result in the payment of cash.
• B)Procedures for purchasing,receiving and paying for merchandise are divided among several departments.
• C)The system limits the individuals that can incur cash payment obligations for a company.
• D)It is applied to purchases of merchandise inventory and all other expenses.
• E)It is not necessary if the supplier provides both receiving report and invoice with the merchandise shipped.

---

Definitions:

Digital Cash

Money stored electronically and used in place of physical currency.

Electronic Funds

Money that is moved electronically from one bank account to another.

Microchips

Small, integrated circuits embedded in various devices to provide control, processing, or memory capabilities.

Electronic Fund Transfer Act

A law that protects consumers when they transfer funds electronically, including ATMs, debit cards, and direct deposits.