Who typically authorizes an accounting voucher before it is recorded? MCQ with Answer and Explanation

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Who typically authorizes an accounting voucher before it is recorded?

A. An Authorized Signatory or Manager

B. The Auditor

C. The Cashier

D. The Junior Accountant

Answer: Option A

Solution (By JKSSB Mock Tests)

For internal control, vouchers must be signed and authorized by a designated manager or official before posting.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

Goods given away as charity should be credited to:

A. Cash Account

B. Charity Account

C. Purchases Account

D. Sales Account

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Correct Answer: Option C

Explanation:
Donating goods reduces the stock of purchased goods. Thus, the Purchases account is credited at cost price.

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

Question #2

In a common-size statement, all items are expressed as percentage of:

A. Gross profit

B. Capital

C. Net profit

D. Total assets or total revenue

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Correct Answer: Option D

Explanation:
Common-size balance sheet expresses each item as % of total assets; income statement as % of net sales.

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

Question #3

The 'Interest Coverage Ratio' is:

A. Sales / Interest

B. Equity / Interest

C. Net profit / Interest

D. EBIT / Interest

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Correct Answer: Option D

Explanation:
Interest coverage ratio = Earnings before interest and taxes (EBIT) / Interest expense.

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

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