Final Answer:
True. Firms that aim to enhance control over cash disbursements often implement a voucher system to monitor and authorize payments, ensuring accuracy and accountability in the disbursement process.
Step-by-step explanation:
A voucher system is an internal control mechanism used by businesses to manage and track cash disbursements. It involves the creation and approval of vouchers before payments are made. These vouchers contain detailed information about the transaction, such as the payee, purpose of payment, amount, and authorization signatures.
By implementing a voucher system, firms can enhance control over cash disbursements. The system requires proper documentation and authorization for every payment, reducing the likelihood of errors, fraud, or unauthorized expenditures. It helps in maintaining accurate records, tracking expenses, and ensuring that payments align with approved budgets and policies. Therefore, the use of a voucher system aids firms in improving control and oversight over their cash disbursements.