Have an account?
Skip to Content
Build your own quiz
40 questions
Show Answers
See Preview
- 1. Fill in the Blank
Vouchers are prepared on the basis of ______________ .
- 2. Fill in the Blank
Written evidences which become basis of recording business transactions is ___________.
- 3. Fill in the Blank
. ____________ voucher is prepared to record Cash purchases.
- 4. Fill in the Blank
Credit Vouchers are prepared to record cash ___________.
- 5. Fill in the Blank
All credit transactions are recorded in the books on the basis of ___________ vouchers.
- 6. Fill in the Blank
While preparing the accounting vouchers ___________ concept is applied.
- 7. Fill in the Blank
Transaction with multiple debits and one credit are recorded on the basis of _________ vouchers.
- 8. Fill in the Blank
When goods are received back from customers __________ supporting document is prepared.
- 9. Fill in the Blank
_____________ is prepared by the seller of goods when he sells goods on credit.
- 10. Fill in the Blank
While depositing Cash in Bank, the source document to be prepared is ____________.
- 11. Fill in the Blank
. Raghav , a proprietor purchased Computer for business in Cash. The accounting vouchers prepared for recording will be ____________.
- 12. Fill in the Blank
The__________ voucher is prepared to record interest on Capital.
- 13. Multiple Choice
Vouchers are prepared on the basis of Source Documents.
True
False
- 14. Multiple Choice
Written evidences which become basis of posting business transactions in ledger are Vouchers.
True
False
- 15. Multiple Choice
Credit voucher is prepared to record Cash purchases.
True
False
- 16. Multiple Choice
All credit transactions are recorded in the books on the basis of Transfer vouchers.
True
False
- 17. Multiple Choice
While preparing the accounting vouchers objectivity concept is applied.
True
False
- 18. Multiple Choice
Transaction with multiple debits and credits are recorded on the basis of Credit vouchers.
True
False
- 19. Multiple Choice
Cash Memos, invoice, bills are examples of Accounting Vouchers.
True
False
- 20. Multiple Choice
A trader purchased 10 chairs @ Rs 500 each, the transfer voucher which is prepared will show Rs 5,000
True
False
- 21. Multiple Choice
A trader returned goods to his supplier of list price Rs 10,000 that were earlier purchased at 15% trade discount. The debit note will be prepared by the trader and sent to supplier showing Rs 10,000 .
True
False
- 22. Multiple Choice
A trader purchased goods for Rs 60,000 from X and Company. He paid Rs 40,000 in cash. The amount that would be recorded in debit voucher is Rs 40,000 .
True
False
- 23. Multiple Choice
Voucher which records a transaction that entails multiple debits / credits and one credit / debit is called:
a) Debit voucher
b) Credit voucher
c) Compound voucher
d) Journal voucher
- 24. Multiple Choice
A document which provides evidence of the transaction is called:
a) Journal
b) Voucher
c) Source document
d) None of the above
- 25. Multiple Choice
Which concept is followed for preparing vouchers?
a) Entity concept
b) Cost concept
c) Accrual concept
d) Objectivity concept
- 26. Multiple Choice
Chronological order of valid voucher would be:
a) Date, Credit account, Voucher Number, Debit account, Narrative, Amount
b) Voucher Number, Date, Debit account, Credit amount, Amount, Narrative
c) Date, Debit account, Credit account, Amount, Narrative, voucher number
d) Voucher Number, Amount, Date, Debit Account, Credit account
- 27. Multiple Choice
Voucher relates to:
a) Cash receipt
b) Cash payment
c) Credit transaction
d) All of the above
- 28. Multiple Choice
Transaction with one debit and one credit and the accounting vouchers prepared for such transactions is known as:
a) Compound voucher
b) Debit voucher
c) Transfer voucher
d) Credit voucher
- 29. Multiple Choice
Which of the following evidences is the valid voucher in a business transaction?
(a) Cash-memo
(b) Invoice
(c) Cheques
(d) None of the above
- 30. Multiple Choice
Accounting voucher must contain the following elements:
(a) It is written on a good quality paper.
(b) Date of the transaction.
(c) The number of the voucher is to be in a serial order.
(d) All of the above.
- 31. Multiple Choice
Which of the following is not recorded in a voucher
a) Date of Transaction
b) Voucher number
c) Quantity of goods purchased
d) Signature of the accountant.
- 32. Multiple Choice
Supporting document is not available for which of the following transaction:
a) Credit purchase of goods
b) Cash embezzlement
c) Cash Sales
d) Payment of electricity bill.
- 33. Multiple Choice
When Insurance Claim is accepted by Insurance company one of the following voucher is prepared
a) Debit Voucher
b) Credit voucher
c) Transfer Voucher
d) None of the above.
- 34. Multiple Choice
An entry made in Journal Proper if based on one of the following Vouchers:
a ) Debit Voucher
b) Credit voucher
c)Transfer Voucher
d)None of the above
- 35. Multiple Choice
A trader purchased furniture for the business for Rs 20,000 and also paid Rs 800 as carriage. The accounting voucher to be prepared to record this transaction will be
a) Credit Voucher of Rs. 20,800
b) Credit Voucher of Rs 20,000
c) Debit Voucher of Rs 20,000
d) Debit Voucher of Rs 20,800.
- 36. Multiple Choice
A trader deposited Rs 40,000 in Bank. The accountant needs to prepare a source document which will act as an evidence of this transaction.
a) Pay in slip
b) Cheque
c) Debit Note
d) Credit Note
- 37. Multiple Choice
A debtor of Rs 8,000 was declared insolvent and only 40% amount could be realised from his estate as final dividend. To record this transaction , the following vouchers would be prepared
a) Credit and debit voucher
b) Credit Voucher and Transfer voucher
c) Transfer Voucher and Debit Voucher
d) None of the above
- 38. Multiple Choice
A trader asked his accountant to withdraw Rs 12,000 from Bank for personal use. Name the voucher that the accountant will prepare is
a) Debit Voucher
b) Cheque
c) Credit Voucher
d) None of the above
- 39. Multiple Choice
A trader sold goods of list price Rs 1,00,000 @ 10% trade discount to Y and Company. He also paid Rs 2,000 as carriage to be charged from Y and Company. The vouchers that will be prepared are
a) Debit Voucher Rs 2,000 and Transfer voucher Rs 90,000
b) Credit Voucher Rs 1,00,000 and Transfer Voucher Rs 2.000
c) Debit voucher Rs 2,000 and Transfer voucher Rs.1,00,000
d) None of the above.
- 40. Multiple Choice
When Insurance Claim of Rs 1,00,000 is accepted by Insurance company on loss of goods by fire costing Rs 1,50,000 a month ago, one of the following voucher is prepared
a) Credit Voucher Rs 1,00,000
b) Credit voucher Rs 1,50,000
c)Transfer Voucher Rs. 1,00,000
d)Transfer Voucher Rs 1,50,000
- Answer choicesTagsAnswer choicesTags