Question

To determine that each voucher is submitted and paid only once, when a payment is approved, supporting documents should be cancelled by the?

1) authorized members of the audit committee
2) accounting department
3) individual who signs the checks
4) chief executive officer

Answer 1

The accounting department should cancel supporting documents to ensure each voucher is submitted and paid only once. The correct option is: 2) accounting department.

Step-by-step explanation:

When a payment is approved, supporting documents should be cancelled by the accounting department. It is the responsibility of the accounting department to ensure that each voucher is submitted and paid only once.