When a voucher system is used, an invoice approval is not needed as long as the purchase is evidenced by an invoice and purchase order.
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Q40: Canceled checks are checks the bank has
Q41: The petty cash fund should be reimbursed
Q42: An invoice is an itemized statement of
Q43: Outstanding checks, deposits in transit, deductions for
Q44: Since petty cash is concerned with such
Q46: The entry to increase the balance in
Q47: Proper internal control would require that a
Q48: It is generally not necessary for businesses
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Q50: Outstanding checks are checks the bank has
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