What is a vouchers payable system and why is it used?
Many firms use a vouchers payable system rather than a traditional AP system. Under this approach, the AP department uses cash disbursement vouchers and maintains a voucher register. After the AP clerk performs the three-way match, he or she prepares a cash disbursement voucher to approve payment. Vouchers provide improved control over cash disbursements and allow firms to consolidate several payments to the same supplier on a single voucher, thus reducing the number of checks written.
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a. counselor b. mediator c. integrator d. arbitrator
The doctrine of promissory estoppel is used when the requirements of ________ are not met
A) garnishment B) acceptance C) consideration D) restatement
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A. commerce B. communication C. transportation D. distribution E. population
The employer should record deductions from employee pay as:
A. Current liabilities. B. Payroll taxes. C. Employee receivables. D. Wages payable. E. Employee payables.