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Question
Valid types of vouchers are ______ and ______.
Options
contra
sales
income
expenditure
liability
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Solution
Valid types of vouchers are contra and sales.
Explanation:
- Contra voucher - Used to record transfers between cash and bank accounts (e.g., cash deposited into the bank, cash withdrawn, or transfers between bank accounts).
- Sales voucher - Used to record sales of goods or services (both cash sales and credit sales).
- “Income,” “Expenditure,” and “Liability” refer to account/group types (ledger heads), not standard voucher types.
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