A set of procedures and approvals that is designed to control cash disbursements and the acceptances of obligations is referred to as a(n): Internal cash system Petty cash system Cash disbursement system Voucher system Cash control system

Finance Mar 25, 2021

A set of procedures and approvals that is designed to control cash disbursements and the acceptances of obligations is referred to as a(n):

1. Internal cash system

1. Petty cash system
2. Cash disbursement system
3. Voucher system
4. Cash control system

Expert Solution

Answer:

d . Voucher system

Step-by-Step explanation

Vouching system is a set of procedures and approvals designed to control cash disbursements and the acceptance of obligations.

The voucher system of control establishes procedures for verifying, approving, and recording obligations for eventual cash disbursement and issuing checks for payment of verified, approved, and recorded obligations.

Correct answer is D.

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