The Voucher System Requires That Invoices Be Compared with Receiving

question 13

Multiple Choice

The voucher system requires that invoices be compared with receiving reports and express bills before a voucher is prepared and approved for payment.

• A)Unrecorded checks appear in the bank statement
• B)The treasurer takes funds by preparing a fictitious voucher charging "Miscellaneous General Expenses"
• C)An employee in the purchasing department sends through fictitious invoices and receives payment
• D)A cash shortage is covered by underfooting outstanding checks on the bank reconciliation
• E)A cash shortage is covered by omitting some of the outstanding checks from the bank reconciliation

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Definitions:

Push Manufacturing

A type of production strategy where products are made in anticipation of customer demand based on forecasts, leading to stockpiling.

Estimated Customer Demand

An approximation of the quantity of a product or service that consumers will purchase in a specified period.

Pull Manufacturing

A manufacturing approach that relies on demand to pull products through the production process, as opposed to producing goods in anticipation of demand.

Estimated Customer Demand

An approximation of the quantity of a product or service that customers will purchase in the foreseeable future.