In a computerized accounting system, a voucher is: MCQ with Answer and Explanation

Question
In a computerized accounting system, a voucher is:
A. A physical paper document
B. A printed report
C. A type of software
D. A screen to input transaction data
Answer: Option D
Solution (By JKSSB Mock Tests)
In accounting software, voucher refers to the data entry form for recording transactions.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
In Cost-Volume-Profit (CVP) analysis, 'Angle of Incidence' represents:
A. The angle of the fixed cost line
B. The angle between total sales line and total cost line above the BEP
C. The point of zero profit
D. The percentage of variable cost to sales
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Correct Answer: Option B

Explanation:
A wider angle of incidence on a break-even chart indicates a higher rate of profit generation once the break-even point is crossed.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Social Accounting is also known as:
A. Social responsibility accounting
B. Green accounting
C. Environmental accounting
D. All of these
Discuss
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Correct Answer: Option D

Explanation:
Social accounting encompasses reporting on social, environmental, and ethical impacts, often termed social responsibility accounting, environmental accounting, or green accounting.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
A Suspense Account is generally closed when:
A. All errors causing the trial balance difference are rectified
B. The financial year ends
C. The balance sheet is signed
D. The auditor approves it
Discuss
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Correct Answer: Option A

Explanation:
The Suspense Account exists only as a temporary fix. Once all one-sided errors are found and rectified, its balance becomes zero.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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