What information should be included in records of transactions?

The correct choice emphasizes the importance of documenting comprehensive details for each transaction. This includes not just the dollar amount but also specific transaction details, such as the date, vendor, and purpose, along with the necessary signatures. Maintaining a thorough record ensures accountability and transparency in financial dealings. It also provides a clear audit trail, which is essential for compliance with governmental regulations and internal policies. By capturing all relevant information, organizations can effectively track spending patterns, manage budgets, and resolve any discrepancies that may arise. Such meticulous record-keeping is critical in preventing fraud and ensuring that funds are used appropriately.