Advertisements
Advertisements
Question
Every voucher maintained its ______ and ______ record.
Options
debit
in
out
credit
open
Advertisements
Solution
Every voucher maintained its debit and credit record.
Explanation:
A voucher is a pre-numbered accounting document used to record a transaction. Under the double-entry system, every transaction affects at least two accounts, so each voucher records the debit entry and the corresponding credit entry to ensure the books remain balanced and to provide a clear audit trail.
APPEARS IN
RELATED QUESTIONS
A pre-numbered accounting document used for posting daily transactions is called as ______.
When cash is going out of the business ______ type of voucher is used.
Return of goods to a supplier comes under ______ type of voucher.
GSTIN stands for ______.
GST came into force in India with effect from ______.
Rectifying entries or transfers or adjustment entries comes under ______ voucher type.
State whether the statement is TRUE or FALSE.
Receipt voucher is used when the cash is accepted.
State whether the statement is TRUE or FALSE.
Recording a transaction through voucher is called as voucher entry.
State whether the statement is TRUE or FALSE.
GST is focus on one nation one tax.
Contra Voucher is used for ______.
Salary account comes under which of the following head:
In India the GST Act came into effect on ______.
GST is ______ type of tax.
Valid types of vouchers are ______ and ______.
______ and ______ are ledger accounts can be created under Group Indirect Expenses.
Find out the GST exemption list for various goods and services.
