The Voucher System of Control

question 98

Multiple Choice

The voucher system of control:

• A)Is a set of procedures and approvals designed to control cash receipts and the acceptance of obligations.
• B)Establishes procedures for verifying,approving,and recording obligations for eventual cash disbursement.
• 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:

Temper

A person's state of mind seen in terms of their being angry or calm.

Chronic Medical Condition

A long-lasting health condition that requires ongoing management over a period of years or decades, such as diabetes or heart disease.

Hazardous Wastes

Waste materials that are dangerous or potentially harmful to human health or the environment.

Stress Response

The body's reaction to any change that requires an adjustment or response, which can be physical, mental, or emotional.