A voucher that supports a transaction is called: MCQ with Answer and Explanation

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A voucher that supports a transaction is called:

A. Cash voucher

B. Transfer voucher

C. Journal voucher

D. Source voucher

Answer: Option D

Solution (By JKSSB Mock Tests)

Source vouchers are original documents like invoices, receipts that prove a transaction occurred.

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 'Impersonal Accounts' are further classified into:

A. Representative and Personal

B. Current and Non-current

C. Natural and Artificial

D. Real and Nominal

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Correct Answer: Option D

Explanation:
Impersonal accounts include real (assets) and nominal (expenses/losses, incomes/gains).

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

Question #2

Which of the following is a feature of a company as per Companies Act?

A. Perpetual succession

B. Cannot own property

C. No separate legal entity

D. Unlimited liability

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Correct Answer: Option A

Explanation:
A company has perpetual succession, separate legal entity, limited liability, and can own property.

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

Question #3

Interest on drawings is charged to partners' capital/current accounts because:

A. It reduces partners' capital

B. It is a liability

C. It is an income for the firm

D. It is an expense for the firm

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Correct Answer: Option C

Explanation:
Interest on drawings is a gain for the firm, so it is credited to Profit & Loss Appropriation Account and debited to partners' capital accounts.

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

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