The Voucher System Strengthens Internal Control Because

question 20

Multiple Choice

The voucher system strengthens internal control because:

• A)all the duties of preparing a voucher and the receiving reports are assigned to multiple employees.
• B)certain payments,which are made on a regular basis,such as monthly rent payments,still need to be vouchered.
• C)the employee who approves all vouchers then sends the approved vouchers to others who prepare the voucher register and the check register.
• D)All of these answers are correct.

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Definitions:

Functional Managers

Responsible for one area of activity, such as finance, marketing, production, human resources, accounting or sales.

Organisational Goals

The stated aims or objectives that a company or an institution seeks to achieve, guiding its operations and strategic planning.

Affirmative Action Program

Policies designed to increase opportunities for historically underrepresented groups by considering those group memberships in decisions like hiring and admissions.

Minority Advancement

Efforts and programs aimed at improving the social, educational, and economic status of groups that are historically underrepresented or disadvantaged.