1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MatroZZZ [7]
3 years ago
7

All of the following statements regarding a voucher system are incorrect except _____.

Business
1 answer:
kobusy [5.1K]3 years ago
6 0

Answer:

b) an invoice approval initiates the recording of a purchase

Explanation:

A voucher system is used for the authorization of cash payments. Under such a system, a voucher is prepared stating what item is to be purchased, the account which would be charged and the amount of purchases.

Internal controls refer to the system of prevention and detection of frauds and misstatements by the management of an entity to ensure integrity of financial records and transactions.

A voucher system is one of the means of implementing internal controls whereby every purchase can only be processed by sanction of an authority who is authorized to pass the purchase. The voucher issuer and authorizing authority are of course different to ensure independence.

You might be interested in
Leaders have the duty and responsibility to plan in advance for all foreseeable situations and circumstances for all activities.
iren [92.7K]

Answer:

True

Explanation:

It is responsibility and duty of leaders to know about all circumstances and situations , Leaders needs to plan before any bad things happen to Company. If he did not do such thing , may be failure outcome happen.

8 0
3 years ago
The difference between a financial aid package and total cost of collage can be made up by ______.
Gennadij [26K]
Personal savings and student loans
6 0
2 years ago
Read 2 more answers
Suppose the firm currently uses the input (L; K) = (8; 10) and produces 10 units of output. In addition, the manager finds that
labwork [276]

Answer:

A. Layoff some workers and acquire more capitals.

Explanation:

See attached file

8 0
3 years ago
What does country of primary residence mean?
ki77a [65]
A tenant whose apartment has just been converted to cooperative ownership
8 0
3 years ago
How is goodwill calculated? A. The amount paid to purchase a business in excess of the market value of its net assets. B. An est
kondaur [170]

Answer:

Goodwill is calculated as A. The amount paid to purchase a business in excess of the market value of its net assets.

Explanation:

Goodwill is the quantification of the value of the name or reputation of a business. It is an intangible asset for the business that arises and is recorded as part of a business's value when it is sold. Goodwill is the additional amount paid by the buyer in excess of the amount that a business's tangible net assets are worth. Thus, goodwill can be calculated as the amount paid in to purchase a business in excess of the market value of its net assets.

For example, If a business is purchased for $100 whose net assets, which are Total assets less total liabilities, are worth $80. Then the goodwill is the $20 that is the difference of the amount paid to purchase the business and the value of its net assets.

8 0
3 years ago
Other questions:
  • Which of the following is NOT one of the biggest B2C catalogers? a. The Limited b. Sears c. Williams-Sonoma d. JCPenney
    9·1 answer
  • Suppose the U.S. economy slips into a recession. In response, the Federal Reserve cuts the federal funds rate in order to avoid
    7·1 answer
  • Cyber Security Systems had sales of 4,600 units at $65 per unit last year. The marketing manager projects a 30 percent increase
    8·1 answer
  • Jones Co. started the year with no inventory. During the year, it purchased two identical inventory items at different times. Th
    9·1 answer
  • An outside broker locates a seller for a buyer representative's client. In this instance, the outside broker is acting as
    11·1 answer
  • As an exporter, Delios Trading wants to be paid before a consignment is shipped. Correspondingly, its importer in Japan, Abe Imp
    9·1 answer
  • A firm’s profit margin is 5 percent, its debt/assets ratio is 56 percent, and its dividend payout ratio is 40 percent.
    10·1 answer
  • Suppose your school is considering whether to spend $20 million building a new state- of-the-art recreation facility. All of the
    9·1 answer
  • jackson's programming paid its june rent of $500 cash. demonstrate how to use the accounting equation to record the transaction
    8·1 answer
  • the common stock and debt of northern sludge are valued at $64 million and $36 million, respectively. investors currently requir
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!