A 'Voucher' that records a transaction involving both cash and bank is called: MCQ with Answer and Explanation

Question
A 'Voucher' that records a transaction involving both cash and bank is called:
A. Payment voucher
B. Contra voucher
C. Receipt voucher
D. Journal voucher
Answer: Option B
Solution (By JKSSB Mock Tests)
Contra vouchers record transactions like cash deposited into bank or withdrawn from bank.
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 'Anti-Dumping Duty' is imposed to:
A. Protect domestic industry from cheap imports sold below normal value
B. Increase imports
C. Reduce customs duty
D. Promote exports
Discuss
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Correct Answer: Option A

Explanation:
Anti-dumping duty is a trade remedy measure.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
S1: Vouching checks the arithmetical accuracy of the books. S2: Vouching checks the authenticity of the transactions. Which statement(s) is/are correct?
A. S1 only
B. Neither S1 nor S2
C. Both S1 and S2
D. S2 only
Discuss
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Correct Answer: Option D

Explanation:
Vouching is the examination of documentary evidence to verify the authenticity and accuracy of transactions, not their arithmetical accuracy (which is checked by the Trial Balance). S1 is incorrect, S2 is correct.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Indian Audit and Accounts Department' works under:
A. Ministry of Finance
B. RBI
C. Comptroller and Auditor General
D. Planning Commission
Discuss
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Correct Answer: Option C

Explanation:
The IA&AD is headed by the CAG.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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