S1: Vouching checks the arithmetical accuracy of the books. S2: Vouching checks the authenticity of the transactions. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: Vouching checks the arithmetical accuracy of the books. S2: Vouching checks the authenticity of the transactions. Which statement(s) is/are correct?
A. Both S1 and S2
B. Neither S1 nor S2
C. S1 only
D. S2 only
Answer: Option D
Solution (By JKSSB Mock Tests)
Vouching is the examination of documentary evidence to verify the authenticity and accuracy of transactions, not their arithmetical accuracy (which is checked by the Trial Balance). S1 is incorrect, S2 is correct.
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