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

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Definitions:

Sample Size

The number of observations or data points collected in a study.

Statistical Procedure

A statistical procedure involves methods and operations applied on data to analyze, interpret, or draw conclusions from it.

Spearman Rank-Order

A nonparametric method for evaluating rank correlation which determines how accurately a monotonic function can depict the relationship between two variables.

P Value

A measure in statistical hypothesis testing representing the probability of obtaining a result at least as extreme as the one observed, assuming the null hypothesis is true.