The primary objective of a voucher system is to
A) sign checks.
B) review cash payments.
C) record liabilities.
D) reconcile the vendor subsidiary ledger to the control account.

Question

Quizplus · Accepted Answer

The primary objective of a voucher system is to review cash payments. A voucher system is a method of controlling and tracking business expenses by issuing pre-numbered vouchers for every payment made. Vouchers provide a paper trail of all payments, which can be used to review and verify expenditures, ensure accuracy and prevent fraud. Therefore, the primary objective of a voucher system is to review cash payments. The other options mentioned - signing checks, recording liabilities and reconciling ledgers - are all steps involved in the voucher system, but they are not the primary objective of the system.

The Primary Objective of a Voucher System Is to