Which of the Following Is an Internal Control That Would

question 59

Multiple Choice

Which of the following is an internal control that would 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 "cancel" the voucher documents by marking them "paid."

---

Definitions:

Intrinsic Value

The inherent or true value of an asset, investment, or company, based on underlying perception of its true value including all aspects of the business.

First Bankers

This refers to individuals or institutions that were among the earliest to engage in banking activities, such as accepting deposits and making loans.

Goldsmiths

Historically, craftsmen who made objects out of gold, but in financial history, they are known for keeping gold deposits and issuing paper bank notes redeemable for gold.

Medium Of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods and services between parties.