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The control procedure of cancelling the documents in a voucher package (invoices and goods receipt documents) is designed to reduce the risk o O Making duplicate payments. O Failure to take advantage of discounts for prompt payment. O Paying for items not received. O Fraudulent cash disbursements.

The control procedure of cancelling the documents in a voucher package (invoices and goods receipt documents) is designed to reduce the risk o O Making duplicate payments. O Failure to take advantage of discounts for prompt payment. O Paying for items not received. O Fraudulent cash disbursements.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The control procedure of cancelling the documents in a voucher package (invoices and goods receipt documents) is designed to reduce the risk of: Making duplicate payments. Failure to take advantage of discounts for prompt payment. Paying for items not received. Fraudulent cash disbursements.
Transcribed Image Text:The control procedure of cancelling the documents in a voucher package (invoices and goods receipt documents) is designed to reduce the risk of: Making duplicate payments. Failure to take advantage of discounts for prompt payment. Paying for items not received. Fraudulent cash disbursements.
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