Explain the Purpose of a Journal Voucher File

question 82

Essay

Explain the purpose of a journal voucher file.

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Definitions:

Direct Expense

Direct Expense is a cost that can be directly tied to the production or sale of specific goods or services.

Traceable

Refers to costs or expenses directly linked to a specific department, product, or activity, allowing for accurate financial analysis.

Department

A specialized functional area within an organization that focuses on specific operations or responsibilities.

Net Income

The total profit of a company after all expenses, including taxes and costs, have been deducted from total revenue, indicating the company's profitability.