(Answered) Question 1 when a store purchases merchandise why are

Accounting

Question: 1. When a store purchases merchandise, why are individual departments not allowed to directly deal with suppliers?

2. Good accounting systems help in managing cash and controlling who has access to it.

3. What items are included in the category of cash?

4. What items are included in the category of cash equivalents?

5. What does the term liquidity refer to?

6. Management uses a voucher system to help control and monitor cash disbursements. Identify and describe at least four key documents that are part of a voucher system of control.

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