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:

Identity Shift

A process by which an individual's self-perception and presentation to others change, often due to new experiences or roles.

Open Innovation

A business management model that encourages companies to acquire external ideas and internal inventions to accelerate innovation and market adoption.

In-house R&D

Research and Development activities carried out within an organization, as opposed to outsourcing or external collaborations.

Closed Innovation

An innovation approach where all research and development processes are conducted internally within a firm, with little or no input from external sources.