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:

Dollar

A unit of currency used in various countries, notably the United States, and recognized by its symbol $.

Appreciation

An increase in the value of an asset or currency over time.

Dollar

A widely used currency in international trade, often associated with the United States Dollar (USD), recognised by the symbol $.

Managed Float System

An exchange rate system in which a country's currency value is allowed to fluctuate in response to foreign exchange market mechanisms, with occasional intervention by the country's monetary authorities to stabilize the currency's value.