Auditing

__________ is concerned with examining documentary evidence to ascertain the authenticity of entries in the books of accounts.

• Vouching
• Accounting
• Recording
• Valuation

Every business transaction must be supported by a voucher.

• True
• False

When a written evidence is available in original, it is known as ___________ vouchers.

• Secondary
• Primary
• Collateral
• Subsidiary

Point out the example for primary voucher.

• Carbon copies of receipt
• Copies of orders
• Copies of invoices
• Cash memo

The amount in the receipt must be shown in words and figures.

• True
• False

__________ account should be maintained on imprest system.

• Cash
• Petty cash
• Salary
• Sales

All payments other than petty cash should be made by _________

• Draft
• Cheque
• Cash
• Consideration

Backbone of auditing is _________

• Accounting
• Book keeping
• Vouching
• Investigation

All the documentary evidence in support of a transaction is _________

• Voucher
• Ledger
• Records
• Accounts

Copy of resolution passed in the meeting is a collateral voucher.

• True
• False