The Voucher System of Control

question 218

Multiple Choice

The voucher system of control:

• A)Is a set of procedures and approvals designed to control cash receipts and the acceptance of liabilities.
• B)Establishes procedures for verifying,approving,and recording liabilities for eventual cash payment.
• C)Establishes procedures for receiving checks for the sale of verified,approved,and recorded activities.
• D)Applies only when multiple purchases are made from the same supplier.
• E)Is required in large companies but not beneficial for small to mid-sized companies.

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Definitions:

Salespeople

Professionals who specialize in selling products or services, often working on commission and responsible for meeting sales targets.

Implications

The possible results or effects that may arise from a specific action or decision.

Buying Decision

The process and factors influencing a consumer or organization’s choice to purchase a product or service, including personal, psychological, and economic considerations.

Restaurant Equipment

Various tools, appliances, and accessories used in the operation of a restaurant, including cooking, storage, and cleaning equipment.