A voucher system is a set of procedures and approvals: Multiple Choice Designed to control cash payments and the acceptance of liabilities. Designed to eliminate the need for subsidiary ledgers. Designed to determine if the company is operating profitably. Used to ensure that the company sells on credit only to creditworthy customers. Used almost exclusively by small companies.

A voucher system is a set of procedures and approvals: Multiple Choice Designed to control cash payments and the acceptance of liabilities. Designed to eliminate the need for subsidiary ledgers. Designed to determine if the company is operating profitably. Used to ensure that the company sells on credit only to creditworthy customers. Used almost exclusively by small companies.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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