Which of the following is true of a voucher system?
A) All expenditures such as rent and interest would first be credited to Accounts Payable before payment is made.
B) Transactions are first entered in the voucher register, then payment is made in the voucher register.
C) The check register replaces the cash payments journal.
D) Either A or B would be correct.
Answer: C
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In the context of the trait approach to leadership _____ refers to a set of characteristics that reflect a high level of effort including high need for achievement constant striving for improvement, ambition, energy, tenacity, and initiative.
Fill in the blank(s) with the appropriate word(s).
Charitable contributions subject to the 50% limit that are not fully deductible in the year made may be
a. Neither carried back nor carried forward. b. Carried back 3 years or carried forward 15 years. c. Carried forward 5 years. d. Carried forward indefinitely until fully deducted.