A Voucher Is an Internal File That

question 120

Multiple Choice

A voucher is an internal file that:

• A)Is prepared after an invoice is received.
• B)Is used as a substitute for an invoice.
• C)Is used to accumulate information needed to control cash disbursements and to ensure that transactions are properly recorded.
• D)Takes the place of a bank check.
• E)Is prepared before the company orders goods.

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Definitions:

Uniform Simultaneous Death Act

A legal guideline used to determine the distribution of property when two or more individuals die at the same time with no clear evidence of who died first.

Insurance Proceeds

The money that an insurance company pays out to a policyholder in the event of a covered loss or claim.

Intestate Succession

The process by which property is distributed by law when a person dies without a valid will, determining heirs based on their relationship to the deceased.

Testamentary Trust

A trust that is created by a will.