A 'Voucher' that records non-cash transactions is called: MCQ with Answer and Explanation

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A 'Voucher' that records non-cash transactions is called:

A. Cash voucher

B. Transfer voucher (Journal voucher)

C. Bank voucher

D. Receipt voucher

Answer: Option B

Solution (By JKSSB Mock Tests)

Non-cash transactions like depreciation, credit sales are recorded via transfer vouchers or journal vouchers.

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

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Question #1

A company's quick ratio is 1:1, current assets ₹2,00,000, inventory ₹40,000. Current liabilities are:

A. ₹1,00,000

B. ₹40,000

C. ₹2,00,000

D. ₹1,60,000

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Correct Answer: Option D

Explanation:
Quick assets = Current assets - Inventory = 2,00,000 - 40,000 = 1,60,000. Quick ratio = QA / CL = 1:1, so CL = ₹1,60,000.

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

Question #2

The 'Business Intelligence Unit' in tax department uses:

A. Only newspaper reports

B. Data analytics to identify tax evasion

C. Physical surveillance

D. Manual intelligence

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Correct Answer: Option B

Explanation:
BIU uses big data and analytics to detect non-compliance.

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Question #3

The 'Recoverable Amount' is the higher of:

A. Fair value less costs to sell and value in use

B. Cost and net realisable value

C. Market value and book value

D. Replacement cost and realisable value

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Correct Answer: Option A

Explanation:
Recoverable amount = higher of (fair value less costs of disposal) and (value in use).

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

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