The 'Accounting Voucher' is prepared on the basis of: MCQ with Answer and Explanation

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The 'Accounting Voucher' is prepared on the basis of:

A. Supporting vouchers

B. Trial balance

C. Ledger accounts

D. Final accounts

Answer: Option A

Solution (By JKSSB Mock Tests)

Accounting vouchers (debit/credit/transfer) are prepared from source documents.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

Which of the following is NOT a function of financial management?

A. Recording daily transactions

B. Determining capital structure

C. Estimating capital requirements

D. Disposing of surplus funds

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Correct Answer: Option A

Explanation:
Recording daily transactions is a function of financial accounting, not financial management. Financial management focuses on planning, organizing, and controlling funds.

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

Question #2

A 'Cash Generating Unit' is defined under:

A. AS 14 Amalgamation

B. AS 10 Fixed Assets

C. AS 2 Inventories

D. AS 28 Impairment of Assets

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Correct Answer: Option D

Explanation:
CGU is a concept used in impairment testing under AS 28.

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

Question #3

The 'Cut-off' procedures in audit relate to:

A. Ensuring transactions are recorded in the correct accounting period

B. Stopping audit

C. Setting materiality

D. Selecting sample

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Correct Answer: Option A

Explanation:
Cut-off tests ensure revenues and expenses are recognised in the proper period.

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

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