A Voucher Package Should Include

question 92

Multiple Choice

A voucher package should include

• A)a purchase requisition,vendor invoice,and receiving report.
• B)a purchase order,vendor invoice,and receiving report.
• C)a purchase requisition,purchase order,and receiving report.
• D)a bill of lading and vendor invoice.

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Definitions:

Machine-hours

The measurement of the amount of time machines are used in the manufacturing process, rephrased as "The cumulative operational time of machines for production."

Spending Variance

The difference between the budgeted or planned amount of expenditure and the actual amount spent.

Static Planning Budget

A budget based on a fixed level of activity and does not change in response to variations in activity levels, offering a baseline for performance evaluation.

Flexible Budget

A budget that adjusts or flexes with changes in the volume or activity level, making it more useful for controlling costs and operational efficiency.