The voucher system improves internal control by requiring all expenditures to be approved before payment can be made.
Correct Answer:
Verified
Q110: Cash in the bank is more liquid
Q115: The petty cash fund had an initial
Q116: An accountant is under pressure to maximise
Q118: A voucher system uses:
A)vouchers,a voucher register and
Q119: A company urgently needs to repair its
Q120: If an accountant takes an action that
Q121: The voucher system helps the business to
Q122: A purchase order is sent by the
Q123: In order to maintain strong internal control
Q125: In a voucher system,the vouchers are prepared
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents