Who typically authorizes an accounting voucher before it is recorded? MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
The balance of the Cash Book represents:
Correct Answer: Option B
Explanation:
A standard triple-column cash book records both cash in hand and cash at bank transactions, so its balance represents both.
A standard triple-column cash book records both cash in hand and cash at bank transactions, so its balance represents both.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
All revenues received, loans raised, and money received in repayment of loans by the Government of India form part of the:
Correct Answer: Option D
Explanation:
As per Article 266(1), all these inflows form the Consolidated Fund of India, from which no money can be spent without parliamentary approval.
As per Article 266(1), all these inflows form the Consolidated Fund of India, from which no money can be spent without parliamentary approval.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
In cost accounting, the 'Re-order Level' is calculated as:
Correct Answer: Option B
Explanation:
The Re-order Level is the level at which a new order is placed. To ensure stock doesn't run out during the maximum lead time, it is calculated as Maximum consumption rate multiplied by Maximum re-order period.
The Re-order Level is the level at which a new order is placed. To ensure stock doesn't run out during the maximum lead time, it is calculated as Maximum consumption rate multiplied by Maximum re-order period.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!