A collection of documents prepared in the process of approving,processing and documenting all purchases and payment made on account is referred to as a:
A) voucher.
B) imprest.
C) EFT.
D) reconciliation.

Question

Quizplus · Accepted Answer

A collection of documents prepared in the process of approving, processing, and documenting all purchases and payments made on account is typically referred to as a voucher. This voucher serves as evidence that a liability has been incurred and facilitates the recording and payment of the liability.

A Collection of Documents Prepared in the Process of Approving,processing