Yes, it does have one. Granted, the Yamaha R-S202 does NOT have physical digital inputs (TOSLINK, coax, USB, etc.) but it DOES have Bluetooth, which means there's a DAC somewhere in there to convert the output of the Bluetooth receiver into analog. Even so, I have had the Bluetooth turned off on the receiver all this time. Interesting...
I don't have another receiver or DAC to do some testing to erik_squires' reply.
I know at this point on the post we're getting far into the weeds, considering that the solution is to have the SYS in the chain BUT I'm interested in the theory behind this so let me ask this:
-Erik_Squires said that most DACs output 2V thru RCA.
-Atmasphere said that the receiver likely has active circuitry (such as a DAC) built-on which can be overloaded.
-Most receivers I looked at have DACs built-in (either in the form of physical digital inputs or Bluetooth connectivity like mine).
-So is it best to use the receiver's built-in DAC to avoid overloading its analog inputs (when using external 2 Vrms DAC)? Or is this a situation of poor design choices (like Atmasphere suggested) probably because I have a cheap receiver ($129)? Are there better designed receivers that have built-in DACs but do NOT suffer from overloading the input, if an external DAC is the source?
Regardless, I've gotten what I needed out of this post. I understand start drying out since I'm asking stuff way beyond the scope of the original post.