All of the Following Activities Occur at the Time of a Cash

question 89

Multiple Choice

All of the following activities occur at the time of a cash disbursement from petty cash except

• A)the petty cash custodian signs the voucher.
• B)available supporting documents are attached to the voucher.
• C)a journal entry is made for each cash distribution.
• D)the individual receiving payment signs the voucher.

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Definitions:

Timeliness

The quality of occurring at a favorable or appropriate time, especially with reference to the importance of time in the fulfillment of tasks or objectives.

Understandability

The extent to which information can be comprehended or grasped by a person with average knowledge of the subject.

Completeness

The state of having all necessary parts, elements, or steps; often relates to the thoroughness and comprehensiveness of information or processes.

Problem Solving

The process of working through details of an issue or challenge to reach a solution.