In a voucher system,the controlling account in the general ledger is:
A)Cash.
B)Accounts Payable.
C)Accounts Receivable.
D)Vouchers Payable.

Question

Quizplus · Accepted Answer

In a voucher system, vouchers are used to document and authorize payments. The controlling account in the general ledger is Vouchers Payable, which tracks the amount of money owed to vendors for goods and services received but not yet paid for. This account is credited when vouchers are entered into the system and debited when payments are made.

In a Voucher System,the Controlling Account in the General Ledger