In the Voucher System,the Purchases Journal Is Replaced by The

question 55

Multiple Choice

In the voucher system,the purchases journal is replaced by the:

• A)check register.
• B)sales register.
• C)invoice register.
• D)voucher register.

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Definitions:

Fed

Short for the Federal Reserve System, it is the central banking system of the United States, responsible for monetary policy.

Reserves

Deposits that banks have received but have not loaned out.

Interest Rate

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid to the lender over a specified period.

Spending Multiplier

The ratio of the change in total output to the initial change in spending that brought it about.