In a computerised accounting system, the 'Voucher Entry' screen is used to: MCQ with Answer and Explanation

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In a computerised accounting system, the 'Voucher Entry' screen is used to:

A. View reports

B. Set passwords

C. Create backup

D. Record transactions

Answer: Option D

Solution (By JKSSB Mock Tests)

Voucher entry is the primary data input interface.

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

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Question #1

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The journal entry for income tax paid by a sole proprietor from the business bank account is:

A. Debit P&L Account, Credit Bank

B. Debit Drawings, Credit Bank

C. Debit Income Tax, Credit Bank

D. Debit Capital, Credit Income Tax

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Correct Answer: Option B

Explanation:
For a sole trader, income tax is a personal expense. Paying it from business funds is treated as Drawings.

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

Question #2

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The 'Payment of Bonus Act, 1965' is applicable to:

A. All employees

B. Only private sector

C. Employees drawing wages up to ₹21,000 per month

D. Only government employees

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Correct Answer: Option C

Explanation:
The Act applies to employees with wages ≤ ₹21,000 per month (threshold may vary with amendments).

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Question #3

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PFMS facilitates 'Just-in-Time' release of funds. This means:

A. Funds are released in advance

B. Funds are never released

C. Funds are released when required, minimising idle balances

D. Funds are released annually

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Correct Answer: Option C

Explanation:
Just-in-Time in PFMS reduces float and improves cash management for government.

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