In the Processing and Recording of Cash Disbursements

Multiple Choice

In the processing and recording of cash disbursements,

A) after a check includes the signature of an authorized person, it is a liability.
B) when a check cashed by the vendor has cleared the bank, it is called an outstanding check.
C) in many cases, the company submits payment to the vendor electronically through an electronic funds transfer (EFT) between the company's bank and the vendor's bank.
D) the accounts payable master file is a computer-generated file that includes all cash disbursement transaction processed by the accounting system for a period.