The voucher system of control: Multiple Choice Establishes procedures for receiving checks for the sale of verified, approved, and recorded activities. Establishes procedures for verifying, approving, and recording liabilities for cash payment. Applies only when multiple purchases are made from the same supplier. Is a set of procedures and approvals designed to control cash receipts and the acceptance of liabilities. Is required in large companies but not beneficial for small to mid-sized companies.
The voucher system of control: Multiple Choice Establishes procedures for receiving checks for the sale of verified, approved, and recorded activities. Establishes procedures for verifying, approving, and recording liabilities for cash payment. Applies only when multiple purchases are made from the same supplier. Is a set of procedures and approvals designed to control cash receipts and the acceptance of liabilities. Is required in large companies but not beneficial for small to mid-sized companies.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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
Transcribed Image Text:The voucher system of control:
Multiple Choice
Establishes procedures for receiving checks for the
sale of verified, approved, and recorded activities.
Establishes procedures for verifying, approving, and
recording liabilities for cash payment.
Applies only when multiple purchases are made
from the same supplier.
Is a set of procedures and approvals designed to
control cash receipts and the acceptance of
liabilities.
Is required in large companies but not beneficial for
small to mid-sized companies.
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