Source Documents and preparation of vouchers Quiz-1

Source Documents and preparation of vouchers Quiz-1

Quiz

 

1. Which of the following transactions is a voucher prepared for?
   1.   Cash or credit purchase
   2.   Cash or credit sale
   3.   Cash received and paid
   4.   All of the above
2. What is the typical source of a pay-in slip?
   1.   The customer receiving payment from a business.
   2.   The bank issuing the pay-in slip to account holders.
   3.   The supplier providing goods or services to a business.
   4.   The employee receiving their salary from an employer.
3. What is the main purpose of a cash memo?
   1.   To request payment from a customer.
   2.   To record cash transactions made by a business.
   3.   To provide evidence of a credit sale.
   4.   To authorize cash withdrawals from a bank.
4. Which of the following statements best describes a voucher in the context of business accounting?
   1.   A document issued by a customer to authorize payment to a vendor.
   2.   A financial statement that summarizes the financial performance of a company.
   3.   A form used to record daily cash transactions in a retail store.
   4.   A written evidence of a business transaction that supports and validates the accounting entry.
5. Which of the following is documentary evidence that records the details of a transaction and is prepared in a specific format?
   1.   Journal
   2.   Ledger
   3.   Voucher
   4.   All of the above
6. Which of the following statements best describes an accounting voucher?
   1.   It is a document used to request payment from a customer.
   2.   It is a form used to record cash transactions made by a business.
   3.   It is a written evidence of a business transaction that supports and validates the accounting entry.
   4.   It is a document issued by a bank for cash withdrawals.
7. What is the purpose of a transfer voucher?
   1.   To record the transfer of funds between bank accounts.
   2.   To request a transfer of goods between departments within a company.
   3.   To authorize the transfer of assets from one entity to another.
   4.   To record the transfer of funds from a customer to a business.
8. Which of the following details are included in a voucher?
   1.   The transaction amount (in both figures and words)
   2.   Signature of the manager or an authorised person
   3.   The particulars column (it records a brief description of the transaction)
   4.   All of the above
9. What is the main purpose of an accounting voucher?
   1.   To request payment from a customer.
   2.   To serve as proof of purchase for customers.
   3.   To record and document financial transactions.
   4.   To authorize payments to employees.
10. Which of the following statements is not true about a source document?
    1.   A petty cash voucher is a source document
    2.   A voucher is a source document
    3.   An invoice is a source document
    4.   A credit note is a source document
11. Which of the following are types of accounting vouchers?
    1.   Payment voucher
    2.   Receipt voucher
    3.   Supporting voucher
    4.   All of the above
12. Which of the following documents are issued at the time of purchase return?
    1.   Bank note
    2.   Credit note
    3.   Debit note
    4.   None of the above
13. A debit voucher is prepared when _______
    1.   The goods are purchased in exchange for cash
    2.   The goods are sold on credit
    3.   A machine is sold on credit
    4.   All of the above
14. Which of the following best defines a voucher?
    1.   A document issued by a buyer to a seller to request goods or services.
    2.   A financial instrument used for making payments electronically.
    3.   A written record of a transaction that serves as evidence for an accounting entry.
    4.   A promotional code or coupon used to obtain discounts or special offers.
15. Which of the following best describes a cash memo?
    1.   A document used to request payment from a customer.
    2.   A record of cash transactions made by a business.
    3.   A form used to record purchases made on credit.
    4.   A document issued by a bank for cash withdrawals.
16. What is the primary purpose of a voucher in accounting?
    1.   To request goods or services from a supplier.
    2.   To serve as a proof of purchase for customers.
    3.   To record and document financial transactions.
    4.   To authorize payments to employees.
17. Which of the following procedures should an accountant follow while preparing a voucher?
    1.   Verify the date, amount, signature and transaction details on the supporting documents
    2.   Confirm if an authorised signatory has approved the supporting documents
    3.   Select the type of voucher that will be used for the transaction
    4.   All of the above
18. Which of the following transactions requires the preparation of a voucher?
    1.   A credit sale of Rs. 5000 to M/s. Ram Das and Sons
    2.   A receipt of Rs. 4000 as professional fees for content development
    3.   A payment of Rs. 30000 as rent for the month of February
    4.   All of the above
19. What is the purpose of a pay-in slip?
    1.   To authorize payment to a supplier.
    2.   To request a cash withdrawal from a bank.
    3.   To record the deposit of funds into a bank account.
    4.   To provide a summary of salary payments made by a company.
20. A voucher is prepared on the basis of ________.
    1.   The journal entries
    2.   The ledger entries
    3.   The documentary evidence
    4.   All of the above