Commercial Law and Preliminaries of Auditing · Class 12 Commerce
Ch 7Vouching — Class 12 Commercial Law and Preliminaries of Auditing, concept-first.
Vouching carries 10 of the 40 marks on Part B (Preliminaries of Auditing) in the Semester IV (Class XII) paper. Like the rest of Semester IV, this unit is examined through Short Answer Questions (2 & 3 marks) and a 5-mark Descriptive question, never as MCQs.
Key concepts
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Vouching — Meaning, Objectives, and Importance
Vouching is the process of examining the documentary evidence behind every entry in the books of account, to confirm the transaction is genuine, properly authorised, correctly recorded (right account, right amount, right…
Most relevant Q&A
Chapter contents
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Overview
Vouching carries 10 of the 40 marks on Part B (Preliminaries of Auditing) in the Semester IV (Class XII) paper.
Vouching, the Voucher, and Vouching of Specific Transactions
Definition. Vouching is the process of examining the documentary evidence (vouchers) that supports every entry recorded in the books of account, in order to satisfy the auditor that the transaction is…
More questions
10 Q+−Show 4 questionsHide questions4 questions
- Q1Define Vouching. State any one objective of vouching.Free
- Q2What is a 'Collateral Voucher'? How does it differ from a 'Primary Voucher'?Free
- Q3State any two factors an auditor should consider while vouching a transaction.Preview
- Q4Why does vouching cash purchases carry a higher risk than vouching credit purchases?Preview