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:

Delusions

Fixed, false beliefs that conflict with reality, often occurring as symptoms of psychiatric conditions.

Indivisible Contract

A contract that cannot be divided and must be performed in its entirety.

Legal Parts

Essential components or sections of a legal document that determine its validity, structure, and enforceability.

Training Program

A structured schedule of activities designed to impart specific skills or knowledge to participants.