1. A voucher system:

1. Permits only authorized individuals to incur obligations that will result in cash disbursements
2. Establishes procedures for incurring such obligations and for their verification, approval, and recording
3. Permits checks to be issued only in payment of properly verified, approved, and recorded obligations
4. Requires that every obligation be recorded at the time it is incurred and every purchase be treated as an independent transaction, complete in itself
5. Does all of the above.