Question

A document prepared to authorize and describe an expenditure is termed as:

Answer 1

A document prepared to authorize and describe an expenditure is termed as AFE (Authorization For Expenditures).

• In the field of accountancy,it is very important to control the flow of expenditure of an organisation with extreme care.
• An organisation cannot just perform a expenditure without proper documentation for future references.
• To keep a brief reference for future,the AFE or Authorization For Expenditures document is made before making any expenditure or invest certain amount of money in any aspect in that organisation.
• These AFE documents are extremely important in the accountant's calculations.

Answer 2

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