Asked by Jasmine Simpson on Jun 04, 2024
Verified
A voucher system is used by many large companies as a means of controlling cash receipts.
Voucher System
A method of accounting in which documents are used to authorize and record transactions.
Cash Receipts
Money received by a business from its operations, including cash sales and collections on credit accounts.
- Acknowledge the constituents and value of a voucher system in governing cash receipts and payments.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
False
Explanation :
A voucher system is primarily used to control cash disbursements and manage payables, not cash receipts.
Learning Objectives
- Acknowledge the constituents and value of a voucher system in governing cash receipts and payments.
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