Which of the Following Statements Is Correct Regarding a Voucher

Multiple Choice

Which of the following statements is correct regarding a voucher system?

A) The journal entry to record the asset purchased and liability owed should be recorded when the bill for goods or services is received.
B) A voucher system is most commonly used in very small companies to make up for the lack of other internal controls.
C) A well-designed voucher system will allow employees requiring office supplies to place orders directly with suppliers for control purposes.
D) A well-designed voucher system will eliminate fraud and errors.