Accounting Vouchers Quiz

Which of the following is NOT a characteristic of a receipt voucher?

• It is used to record all cash and bank receipts

• It always involves a bank transaction

• It can record transactions involving debtors and creditors

• It is classified as an accounting voucher

A company received ₹50,000 as a loan from a bank. Which type of voucher should be used in Tally to record this transaction?

• Payment Voucher

• Contra Voucher

• Receipt Voucher

• Journal Voucher

What is the primary purpose of creating a ledger in accounting software like Tally?

• To store stock-related data

• To record transactions under different accounts

• To print invoices

• To generate barcodes

In Tally, how does the system treat a receipt voucher when money is received through a bank?

• It credits the bank account and debits the relevant account

• It debits the bank account and credits the relevant account

• It debits the cash account and credits the bank account

• It credits the debtor's account and debits the creditor's account

Which type of transaction is recorded using a Payment Voucher in Tally?

• Advance payment to a supplier

• Adjustment of outstanding expenses

• Receipt of funds from a debtor

• Issuance of a credit note

If a business owner withdraws cash from the bank for personal use, which voucher type is used?

• Contra Voucher

• Payment Voucher

• Receipt Voucher

• Journal Voucher

A company pays rent of ₹20,000 by cheque. How should this transaction be recorded?

• Credit Rent Paid, Debit Cash

• Debit Rent Paid, Credit Bank

• Debit Bank, Credit Rent Paid

• Credit Rent Paid, Debit Sundry Creditors

In Tally, which of the following statements about Payment Vouchers is correct?

• They can only be used for cash payments

• They cannot be used for bank transactions

• They are used when money is paid by cash or bank

• They are used to record customer advances

Which of the following transactions would be recorded using a journal voucher?

• Sale of goods for cash

• Purchase of goods on credit

• Adjustment of depreciation on fixed assets

• Payment of salary in cash

When receiving a cheque from a customer, which of the following best describes the correct accounting entry?

• Debit Cash, Credit Bank

• Debit Customer Account, Credit Cash

• Debit Bank, Credit Customer Account

• Debit Bank, Credit Capital Account