A Cash Voucher is prepared for: MCQ with Answer and Explanation

Question
A Cash Voucher is prepared for:
A. Only cash receipts
B. Both cash receipts and cash payments
C. Only cash payments
D. Credit transactions
Answer: Option B
Solution (By JKSSB Mock Tests)
Cash vouchers are used to record all transactions involving the physical inflow or outflow of cash.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
The 'Permanent Account Number' (PAN) is issued by:
A. GSTN
B. RBI
C. Income Tax Department
D. MCA
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Correct Answer: Option C

Explanation:
PAN is a unique identifier issued by the Income Tax Department.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
In a partnership, if a partner is guaranteed a minimum profit share, deficiency is borne by:
A. All partners equally
B. The partner giving guarantee
C. The firm
D. From reserves
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Correct Answer: Option B

Explanation:
If a partner guarantees a minimum profit to another, any shortfall is made good by the guaranteeing partner.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
Under the single entry system, if Closing Capital is Rs 50,000, Opening Capital is Rs 30,000, and Drawings are Rs 10,000, what is the profit?
A. Rs 10,000
B. Rs 20,000
C. Rs 40,000
D. Rs 30,000
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Correct Answer: Option D

Explanation:
Profit = Closing Capital + Drawings - Opening Capital = 50,000 + 10,000 - 30,000 = Rs 30,000.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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