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Home Q & A Board Other Fields Homework Help Business Accounting
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chief333 chief333
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A year ago
In the processing and recording of cash disbursements,

▸ after a check includes the signature of an authorized person, it is a liability.

▸ when a check cashed by the vendor has cleared the bank, it is called an outstanding check.

▸ in many cases, the company submits payment to the vendor electronically through an electronic funds transfer (EFT) between the company's bank and the vendor's bank.

▸ the accounts payable master file is a computer-generated file that includes all cash disbursement transaction processed by the accounting system for a period.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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jpinette86jpinette86
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A year ago
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