A 'Supporting Voucher' is also known as: MCQ with Answer and Explanation

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A 'Supporting Voucher' is also known as:

A. Journal voucher

B. Transfer voucher

C. Cash voucher

D. Source document

Answer: Option D

Solution (By JKSSB Mock Tests)

Source documents like bills, receipts support the transaction.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

A journal entry with more than two accounts is known as:

A. Opening entry

B. Simple journal entry

C. Complex entry

D. Compound journal entry

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Correct Answer: Option D

Explanation:
A compound journal entry involves three or more accounts (multiple debits or credits).

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

The 'Section 269ST' prohibits:

A. All digital payments

B. All cash transactions

C. Cash payment above ₹10,000

D. Receipt of ₹2 lakh or more in cash from a person in a day or for a single transaction or related transactions

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Correct Answer: Option D

Explanation:
Section 269ST restricts cash receipt of ₹2 lakh or more.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

Which formula correctly represents 'Cost of Production'?

A. Cost of Production + Selling Overheads

B. Prime Cost + Factory Overheads

C. Factory Cost + Administrative Overheads

D. Prime Cost + Selling Overheads

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Correct Answer: Option C

Explanation:
In a cost sheet, Factory Cost added to Office and Administrative Overheads yields the Cost of Production.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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