JAMB Accounting 2015 Objective — Question 4

Question 4 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2015 Objective paper, with the correct answer and a full explanation.

An advantage of the use of the voucher system is that it

A. reduces the number of cheques that will be written during any given period
B. provides a highly flexible system for handling unusual transactions
C. provides a comprehensive record of business done with particular suppliersCorrect
D. ensures that every expenditure is reviewed and verified before payment is made

Explanation

The voucher system ensures that proper records are kept for each transaction, showing details of who is involved as well as the transaction value.

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