Which of the Following Control Activities Could Prevent a Paid

question 68

Multiple Choice

Which of the following control activities could prevent a paid disbursement voucher from being presented for payment a second time?

• A) Vouchers should be prepared by individuals who are responsible for signing disbursement checks.
• B) Disbursement vouchers should be approved by at least two responsible management officials.
• C) The date on a disbursement voucher should be within a few days of the date the voucher is presented for payment.
• D) The official signing the check should compare the check with the voucher and should stamp "paid" on the voucher documents.

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Definitions:

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered or used but not yet paid for.

Owner's Drawings

The amount of money or value of other assets withdrawn from the business by the owner for personal use.

Service Revenue

Income earned by providing services as opposed to selling physical goods.

Equipment

Tangible property used in operations, such as machinery and office hardware, which has a useful life longer than one year.