The Voucher System Strengthens Internal Control Because

question 88

Multiple Choice

The voucher system strengthens internal control because:

• A) all the duties of preparing a voucher and the receiving reports are assigned to a single person.
• B) certain payments, which are made on a regular basis, such as monthly rent payments, do not need to be vouchered.
• C) the employee who approves all vouchers then sends the approved vouchers to others who prepare the voucher register and the check register.
• D) All of these answers are correct.

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Definitions:

Marginal Product

The additional output resulting from the use of one more unit of a variable input, holding other inputs constant.

Optimal Employment

The level of employment where the productivity is maximized in relation to the number of employed workers.

Marginal Product

The extra output that is produced by using one more unit of a factor of production, like labor or capital, holding other factors constant.

Level of Employment

The sum of all individuals currently holding either full-time or part-time jobs within the economy.