Which of the Following Statements Is Correct Regarding a Voucher

question 63

Multiple Choice

Which of the following statements is correct regarding a voucher system?

• A)The journal entry to record the asset purchased and liability owed should be recorded when the bill for goods or services is received.
• B)A voucher system is most commonly used in very small companies to make up for the lack of other internal controls.
• C)A well-designed voucher system will allow employees requiring office supplies to place orders directly with suppliers for control purposes.
• D)A well-designed voucher system will eliminate fraud and errors.

Recognize the role of goal setting in MBO and its relation to employee motivation and productivity.

Understand the theoretical foundation of Management by Objectives.

Identify issues and challenges that can cause MBO programs to fail and suggest solutions.

Understand different motivational strategies associated with MBO, including written agreements and internal client relationships.

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Definitions:

Employment Experience

The accumulation of knowledge, skills, and attitudes acquired by individuals through participating in the workforce.

External Supply of Labour

Refers to the availability of potential employees outside the organization, which can be influenced by factors such as demographic changes and education levels.

Retraining Employees

The process of teaching existing employees new skills or updating their current skills to meet the changing demands of their job roles or the company.

Soft Cost

Expenses that are not directly related to physical construction or labor costs, often including design, legal fees, and permits.