Explain how a voucher payable system works. How is the balance of AP determined?
In place of a standard accounts payable system, many firms use a voucher payable system. The AP department prepares cash disbursement vouchers which are recorded in a voucher register. After a clerk performs the three-way match, a cash disbursement voucher is prepared to approve payment. Vouchers provide improved control over cash disbursements and allow firms to consolidate several payments to the same supplier on a single invoice, reducing the number of checks written. The sum of all unpaid vouchers is the AP balance.
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Indicate whether the statement is true or false
What are the characteristics of a successful Web site?
What will be an ideal response?
Jermaine works in the graphics section of his company. His boss asks him to come up with a new product logo. If he is a brand expert, he will draw on his knowledge and experience of certain brands to come up with creative responses that accurately represent the product. If he is not familiar with brand knowledge, than it will take longer to generate creative suggestions. This is an example of
a. Domain-relevant skills and expertise b. Intrinsic task motivation c. Extrinsic environmental components d. Creativity-relevant processes
What amount of cash would result at the end of one year, if $12,000 is invested today and the rate of return is 12%? Use Appendix Table 1.
A. $13,320 B. $10,560 C. $12,000 D. $13,440