Question

Management uses a voucher system to help control and monitor cash payments. Identify the key documents that are part of a voucher system of control.
a. Invoice
b. Outstanding check
c. Purchase order
d. Voucher

Answer 1

Answer:

a. Invoice

c. Purchase order

d. Voucher

Explanation:

Voucher system can be regareded s method used in authorization of the the disbursement of cash. In this system, A voucher will be filled out, this filled voucher will give amount to

be paid for as well as account number to be charged. After the approval of the voucher , there will be authorization of the disbursement system so that payment can be issued.

It should be noted that the Management uses a voucher system to help control and monitor cash payments. the key documents that are part of a voucher system of control are;

✓Invoice

✓ Purchase order

✓Voucher