A Voucher

question 40

Multiple Choice

A voucher

• A) Is a bill from the vendor.
• B) Is a document that records the receipt of goods.
• C) Is a document that requests goods from an authorized individual in the entity.
• D) Serves as the basis for recording a vendor's invoice in the purchases journal.

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Definitions:

Adjusting Entry

An accounting entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile financial statements.

Accounting Cycle

The complete process of collecting, recording, and processing financial transactions of a company, from when the transactions occur, to their representation in the financial statements.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made, used to prepare financial statements.