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

In a computerized accounting system, a voucher is:
A. A physical paper document
B. A type of software
C. A printed report
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.

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Practice More Accountancy and Book Keeping Questions

Question #1
A: Standard costing is used for cost control. R: It involves setting predetermined costs and analyzing variances. Choose the correct option.
A. Both A and R are true and R is the correct explanation of A
B. A is false but R is true
C. Both A and R are true but R is NOT the correct explanation of A
D. A is true but R is false

Correct Answer: Option A


Explanation:
Standard costing is a management tool for cost control. It achieves this by establishing standard (predetermined) costs and comparing them with actual costs to identify and analyze variances for corrective action. R correctly explains A.

Question #2
What is the primary scope of a 'Tax Audit' under Section 44AB of the Income Tax Act?
A. To ensure books are maintained per tax laws and compute taxable income correctly
B. To find accounting errors
C. To value the shares of the company
D. To assess social impact

Correct Answer: Option A


Explanation:
A tax audit ensures compliance with the Income Tax Act, preventing tax evasion by verifying deductions and income reporting.

Question #3
Which of the following is a direct tax in India?
A. Excise duty on liquor
B. Goods and Services Tax
C. Customs duty
D. Corporate tax

Correct Answer: Option D


Explanation:
Corporate tax is levied directly on company profits, thus a direct tax.