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Understanding Vouchers and Cash Memos

The document contains multiple choice questions about accounting vouchers and documents. It tests understanding of concepts like cash memo, invoice, credit note, debit note, source documents, and vouching. Correct answers are provided for questions about when different documents like cash memo and invoice are prepared, examples of source documents, what a voucher represents, what information should be checked on a voucher, and what vouching helps determine for an auditor.

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Mohd Ayaz
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1K views6 pages

Understanding Vouchers and Cash Memos

The document contains multiple choice questions about accounting vouchers and documents. It tests understanding of concepts like cash memo, invoice, credit note, debit note, source documents, and vouching. Correct answers are provided for questions about when different documents like cash memo and invoice are prepared, examples of source documents, what a voucher represents, what information should be checked on a voucher, and what vouching helps determine for an auditor.

Uploaded by

Mohd Ayaz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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1. Cash memo is prepared when goods are


sold
a. On credit
b. On cash
C. Both (a) and (b)
d. None of these

2. Invoice is a source voucher for seller of goods


a. For cash saless
b. For credit purchases
C. For credit sales
d. For cash purchase

3. Cash memo is
a) A sources voucher
b)An accounting voucher
c) C. Neither (a) and (b)
d)Both (a) and (b)
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4. BookS of account are written on the


basis of
a. Source document
b. Accounting vouchers
C. Both (a) and (b)
d. None of these

5. Credit note is prepared


a. When credit is given to the account
b. When debit is given to the account
C. Both (a) and (b)
d. None of the above

6. When goods are sold on credit the seller


prepares
a. Cash memo
b. Invoice
C. Accournting voucher
d. None of these
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7. Example of source document is


a. Cash memo
b. Invoice
C. Receipt
d. All of the above

8. Debit note is issued


a. When good returned to us
b. When goods returned to supplier
C. When we purchase any asset
d. None of the above

9. Cheque is drawn upon


a. Bearer
b. Bank
c. Writer of cheque
d. None of the above
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10. Depreciation will be provided through


a. Credit voucher
b. Debit voucher
C. Transfer Voucher
d. Journal voucher

11. A voucher is a
a) Document in support of an entryNmade in the books of accounts
b) Invoice received from suppliers
c) Receipt issued to a customer for cash received
d) All of these

12. Which of the point is not to be considered while


checking a
Voucher?
(a) Name of party
(b) Serial number of voucher
(c) Credit period of payment
(d) Accounting entry
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13. Which of the following can be accessed as a supporting


document?
1. Invoice
2. debit note /credit note
3. emails/ letters
4. all of the above

14. Checking the date of entry of voucher in the books


mainly helps
auditor to obtain evidence that:
(a) Entry was made on the same day as that of the voucher.
(b) Entries are passed on a daily basis
(c) The vouchers are filled every day.
(d) No vouchers are missing

15. Total amount spent for advertisement expenses be


verified
From the
(a) Receipts from the Medias or advertisement agency.
(b) Register
(c) Debtors
(d) Owner
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16. Vouching helps the auditor to a certain whether the


entries in the book are_____
a) True and fair
b)true
c) Fair
d)none of the above
17. Voucher should be addressed to the
a) Bank Manager
b)Client
c) Supervisor
d)Mechanic
18. Serial number of vouchers should be
a) not serial
b)Continuous.
c) irregular
d)Odd number.

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