In the Processing and Recording of Cash Disbursements

question 41

Multiple Choice

In the processing and recording of cash disbursements,

• A) after a check includes the signature of an authorized person, it is a liability.
• B) when a check cashed by the vendor has cleared the bank, it is called an outstanding check.
• C) in many cases, the company submits payment to the vendor electronically through an electronic funds transfer (EFT) between the company's bank and the vendor's bank.
• D) the accounts payable master file is a computer-generated file that includes all cash disbursement transaction processed by the accounting system for a period.

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Definitions:

Organizational Rules

The guidelines and procedures established within an organization to regulate the behavior and actions of its members.

Gestalt Psychologists

Gestalt psychologists focus on understanding how people perceive and make sense of visual information, emphasizing that the whole of anything is greater than its parts.

Perceived Whole

The concept that an individual sees a complex object or pattern as a single, unified form rather than a collection of separate parts.

Connectedness

Refers to the state or quality of being connected or interconnected, often used to discuss social bonds and relationships among individuals or communities.