In the Expenditure Cycle,good Control Dictates That Expenditures Should Be

question 106

Multiple Choice

In the expenditure cycle,good control dictates that expenditures should be paid by check.This may not be feasible when minor purchases are made.To facilitate quick payment for minor purchases,a(n) ________ should be set up and maintained using ________.

• A)special bank account;disbursement vouchers
• B)imprest fund;vouchers
• C)cash box;small denomination bills
• D)petty cash fund;procurement cards

---

Definitions:

Social Proof

A psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation.

Social Proof

The psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation.

Scarcity

A condition where resources are limited in comparison to the desires or needs.

Credibility

The quality of being trusted and believed in, often resulting from a demonstrated record of reliability and integrity.