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

question 178

Multiple Choice

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

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