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.

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Definitions:

Bond Carrying Value

The net amount at which a bond is reported on the balance sheet, including its face value adjusted for any discounts, premiums, and interest.

Effective Yield

The total yield, or return, on an investment that takes into account the effect of compounding interest, as opposed to just the nominal rate.

Present Value Factors

A multiplier used to calculate the present value of a future payment or series of payments, reflecting the time value of money.

Present Value Factors

A set of coefficients used to calculate the present value of a future cash flow, considering a specific discount rate.