Multiple Choice
A voucher system is a series of prescribed control procedures
A) to check the credit worthiness of customers.
B) designed to assure that disbursements by check are proper.
C) which eliminates the need for a sales journal.
D) specifically designed for small firms who may not have checking accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Q155: A voucher system is used by many
Q156: Allowing only designated personnel to handle cash
Q157: Cash registers are an important internal control
Q158: The safeguarding of assets is an objective
Q159: Internal control is most effective when several
Q161: Deposits in transit<br>A)have been recorded on the
Q162: Each of the following items affect the
Q163: Two individuals at a retail store work
Q164: Jukebox Company had checks outstanding totaling $10,800
Q165: Cash equivalents are highly liquid investments that