Explain How a Disbursement Voucher Table Can Be Used to Replace

question 51

Essay

Explain how a Disbursement Voucher table can be used to replace traditional accounting records.

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Definitions:

First Bankers

Early financial intermediaries who accepted deposits, facilitated loans, and created ways to transfer wealth across great distances.

Goldsmiths

Historically, skilled artisans who made objects out of gold, but in economic context, also referred to as early bankers who issued loans and held deposits.

Barter Transactions

Economic exchanges where goods or services are directly swapped for other goods or services without the use of money as a medium of exchange.

Medium Of Exchange

An assisting mechanism utilized for the sale, acquisition, or exchange of commodities among different parties.