Within the Cash Disbursement Process, Specific Steps Should Be Taken

question 66

Multiple Choice

Within the cash disbursement process, specific steps should be taken to enhance the effectiveness and efficiency of making payments to vendors.Which of the following is NOT one of those steps?

• A)Vendor account reconciliation
• B)Maintenance of the general ledger
• C)Cash management techniques
• D)Payment authorization

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Definitions:

Debt

Money owed by one party to another under the condition that it will be paid back, often with interest.

Statute Law

Written laws enacted by a legislative body, governing various aspects of societal conduct.

Lesser Sum

Refers to an amount of money that is smaller in comparison to another figure or expectation.

Obliged

Required or bound legally or morally to do something.