Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Recording of Transactions - I

Question:

Voucher that records a transaction that entails multiple debits/credits and one credit/debit is called...................

Options:

Debit voucher

Credit voucher

Compound voucher

Accounting voucher

Correct Answer:

Compound voucher

Explanation:

The correct answer is option 3- Compound voucher.

A document which provides evidence of the transactions is called a Voucher. All recording in books of account is done on the basis of vouchers. A transaction with one debit and one credit is a simple transaction and the accounting vouchers prepared for such transaction is known as Transaction Voucher. Voucher which records a transaction that entails multiple debits/credits and one credit/debit is called compound voucher. Compound voucher may be:
(a) Debit Voucher
(b) Credit Voucher