When a Voucher Is Prepared,the Invoice Needs Only to Be

question 65

True/False

When a voucher is prepared,the invoice needs only to be compared to the purchase requisition and purchase order.

---

Definitions:

Reconciled Cash Balance

The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement, to ensure accuracy.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are consistent.

Bank Service Charge

Fees charged by a bank to a customer for account services provided.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.