The voucher system requires that invoices be compared with receiving reports and express bills before a voucher
Fantastic news! We've Found the answer you've been seeking!
Question:
The voucher system requires that invoices be compared with receiving reports and express bills before a voucher is prepared and approved for payment. Which of the following irregularity could be discovered or prevented by this procedure?
Group of answer choices
1. Unrecorded checks appear in the bank statement
2. The treasurer takes funds by preparing a fictitious voucher charging "Miscellaneous General Expenses"
3. An employee in the purchasing department sends through fictitious invoices and receives payment
4. A cash shortage is covered by underfoot outstanding checks on the bank reconciliation
5. A cash shortage is covered by omitting some of the outstanding checks from the bank reconciliation
Related Book For
Posted Date: