Money kept in Provident Funds and small savings schemes forms part of the: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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The 'Independence' of an auditor is required because:
Correct Answer: Option D
Explanation:
Independence ensures unbiased opinion.
Independence ensures unbiased opinion.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The use of 'Smart Contracts' in accounting is a direct result of development in:
Correct Answer: Option D
Explanation:
Smart contracts are self-executing contracts with terms written into lines of code, running on blockchain networks.
Smart contracts are self-executing contracts with terms written into lines of code, running on blockchain networks.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following statements about a 'Voucher' is incorrect?
Correct Answer: Option A
Explanation:
Credit voucher is used for cash receipts, not non-cash transactions. Non-cash are recorded via journal/transfer vouchers.
Credit voucher is used for cash receipts, not non-cash transactions. Non-cash are recorded via journal/transfer vouchers.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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