The Voucher System of Control

question 156

Multiple Choice

The voucher system of control:

• A) Is a set of procedures and approvals designed to control cash receipts and the acceptance of obligations.
• B) Applies only when multiple purchases are made from the same supplier.
• C) Establishes procedures for verifying, approving, and recording obligations for eventual cash disbursement.
• D) Is required in large companies but not beneficial for small to mid-sized companies.
• E) Establishes procedures for receiving checks for the sale of verified, approved, and recorded activities.

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Definitions:

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