20 + Interview Questions in ORIGIN-OF-TRANSACTIONS IN GENERAL AWARENESS Page 1 InterviewSolution

1.	What is a Voucher? Prepare an imaginary Specimen of Voucher.
Answer» A voucher is an internal document describing and authorizing the payment of a liability to a supplier. It is most commonly used in a manual payment system, where it is part of the system of controls.

Discussion

2.	When goods are sold on credit the seller preparesA. Cash Memo.B. Invoice.C. Accounting Voucher.D. None of these.
Answer» Correct Answer - B Invoice.

Discussion

3.	Briefly explain Cash Voucher.
Answer» Cash Voucher is prepared at the time of receipt or payment of cash or cheque.

Discussion

4.	Invoice is a source voucher for purchaser of goodsA. for cash purchases.B. for cash sales.C. for credit sales.D. for credit purchases.
Answer» Correct Answer - D for credit purchases.

Discussion

5.	Invoice is a source voucher for seller of goodsA. for cash purchases.B. for credit purchases.C. for credit sales.D. for cash purchases.
Answer» Correct Answer - C for credit sales.

Discussion

6.	When goods are purchased against cash, the purchaser will getA. Cash Memo.B. Invoice.C. Accounting Voucher.D. None of these.
Answer» Correct Answer - A Invoice.

Discussion

7.	What is a Source Document?
Answer» A source document is an original record which contains the detail that supports or substantiates a transaction that will be (or has been) entered in an accounting system. In the past, source documents were printed on paper. Today, the source documents may be an electronic record.

Discussion

8.	Transfer vouchers are prepared to recordA. cash transactions.B. non-cash transactions.C. (a) and (b).D. None of these.
Answer» Correct Answer - B non-cash transactions.

Discussion

9.	Cash Memo isA. a source voucher.B. an accounting voucher.C. neither (a) and (b).D. both (a) and (b).
Answer» Correct Answer - A a source voucher.

Discussion

10.	Cash memo is prepared when goods are soldA. on credit.B. on cash.C. Both (a) and (b).D. None of these.
Answer» Correct Answer - B on cash.

Discussion

11.	Credit Note is preparedA. 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.
Answer» Correct Answer - A when credit is given to the account.

Discussion

12.	Voucher is prepared forA. Cash and Credit purchases.B. Cash and Credit sales.C. Cash received and paid.D. All of these.
Answer» Correct Answer - D All of these.

Discussion

13.	What are Accounting Vouchers?
Answer» These vouchers are prepared on the basis of supporting vouchers by the accounts clerk or the accountant of the organisation and which are countersigned by an authorised signatory. As soon as it is signed the same is recorded in the books of accounts. These vouchers are made both for cash and non-cash transactions.

Discussion

14.	What are the types of Accounting Vouchers? Or Name the two types of vouchers (Main Classification).
Answer» accounting Vouchers are of two types: (a) Cash Voucher and(b) Non-Cash Voucher or Transfer Voucher.

Discussion

15.	If purchaser of goods returns them, he will prepareA. Credit Note.B. Debit Note.C. Both (a) and (b).D. None of these.
Answer» Correct Answer - B Debit Note.

Discussion

16.	Accounting voucher is prepared fromA. source voucher.B. Journal entry.C. Both (a) and (b).D. None of these.
Answer» Correct Answer - A source voucher.

Discussion

17.	If seller receives back the goods sold, he will prepareA. Credit Note.B. Debit Note.C. Both (a) and (b).D. None of these.
Answer» Correct Answer - A Credit Note.

Discussion

18.	Credit purchase of furniture is recorded throughA. Transfer voucher.B. Cash voucher.C. Debit voucher.D. Credit voucher.
Answer» Correct Answer - A Transfer voucher.

Discussion

19.	Books of Account are written on the basis ofA. Source Document.B. Accounting Vouchers.C. Both (a) and (b).D. None of these.
Answer» Correct Answer - B Accounting Vouchers.

Discussion

20.	Invoice is a source voucher forA. Cash purchases.B. Credit purchases.C. Both (a) and (b).D. neither (a) nor (b).
Answer» Correct Answer - B Credit purchases.

Discussion

Explore topic-wise InterviewSolutions in .

What is a Voucher? Prepare an imaginary Specimen of Voucher.

When goods are sold on credit the seller preparesA. Cash Memo.B. Invoice.C. Accounting Voucher.D. None of these.

Briefly explain Cash Voucher.

Invoice is a source voucher for purchaser of goodsA. for cash purchases.B. for cash sales.C. for credit sales.D. for credit purchases.

Invoice is a source voucher for seller of goodsA. for cash purchases.B. for credit purchases.C. for credit sales.D. for cash purchases.

When goods are purchased against cash, the purchaser will getA. Cash Memo.B. Invoice.C. Accounting Voucher.D. None of these.

What is a Source Document?

Transfer vouchers are prepared to recordA. cash transactions.B. non-cash transactions.C. (a) and (b).D. None of these.

Cash Memo isA. a source voucher.B. an accounting voucher.C. neither (a) and (b).D. both (a) and (b).

Cash memo is prepared when goods are soldA. on credit.B. on cash.C. Both (a) and (b).D. None of these.

Credit Note is preparedA. 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.

Voucher is prepared forA. Cash and Credit purchases.B. Cash and Credit sales.C. Cash received and paid.D. All of these.

What are Accounting Vouchers?

What are the types of Accounting Vouchers? Or Name the two types of vouchers (Main Classification).

If purchaser of goods returns them, he will prepareA. Credit Note.B. Debit Note.C. Both (a) and (b).D. None of these.

Accounting voucher is prepared fromA. source voucher.B. Journal entry.C. Both (a) and (b).D. None of these.

If seller receives back the goods sold, he will prepareA. Credit Note.B. Debit Note.C. Both (a) and (b).D. None of these.

Credit purchase of furniture is recorded throughA. Transfer voucher.B. Cash voucher.C. Debit voucher.D. Credit voucher.

Books of Account are written on the basis ofA. Source Document.B. Accounting Vouchers.C. Both (a) and (b).D. None of these.

Invoice is a source voucher forA. Cash purchases.B. Credit purchases.C. Both (a) and (b).D. neither (a) nor (b).