Which statement is correct concerning the voucher system?

Question

Quizplus · Accepted Answer

The voucher system begins with the authorization to incur a cost or expense, and ends with the issuance of a check. Option A is incorrect because a voucher is not a check, but a document used to record and authorize a payment. Option B is partially correct, as companies do require vouchers for disbursements from petty cash, but this is not the only use of vouchers. Option D is incorrect because a voucher system can be done both manually and electronically.

Which Statement Is Correct Concerning the Voucher System