Tag: business organisation

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Multiple choice business organisation origin of transactions - source documents and preparation of vouchers meaning, importance and components of voucher bank book and petty cash book source documents petty cash book

State whether true or false:
In order to verify the accounting transactions, vouchers are considered as a reliable document.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

True. Voucher is a document that acts as an evidence that the payment is made or that a particular transaction has occurred. Vouchers are made for every transactions, they are serially numbered and help to check the authenticity of a particular transaction.

Multiple choice business organisation origin of transactions - source documents and preparation of vouchers meaning, importance and components of voucher bank book and petty cash book source documents petty cash book

The two types of cash vouchers include debit vouchers and ____________ vouchers.

  1. Credit

  2. Memo

  3. Receipt

  4. Payment
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cash vouchers are of two types viz. debit voucher and credit voucher. A debit voucher is prepared when cash payments are received whereas a credit voucher is prepared when cash payments are made. They are the documentary evidence for payment of cash or for receiving cash.

Multiple choice business organisation origin of transactions - source documents and preparation of vouchers meaning, importance and components of voucher bank book and petty cash book source documents petty cash book

State whether true or false.
Internal vouchers are prepared by third parties related to the firm.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

False. An internal voucher is prepared by the organisation itself. They can be prepared for the organisation itself or in cases where no documentary evidence is given by the other party. Example:- Counter foils of pay in slip. An external voucher is a voucher that is prepared by the third parties. Example:- A voucher sent by a shopkeeper to the buyer for purchase of goods is an external voucher. 

Multiple choice business organisation origin of transactions - source documents and preparation of vouchers meaning, importance and components of voucher bank book and petty cash book source documents petty cash book

External vouchers are prepared by the ___________.

  1. Accountant

  2. Third parties

  3. Relatives

  4. Owner
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An external voucher is a voucher that is prepared by the third parties. They are like bills or just like any other voucher. Example:- A voucher sent by a shopkeeper to the buyer for purchase of goods is an external voucher. 

Multiple choice business organisation origin of transactions - source documents and preparation of vouchers meaning, importance and components of voucher bank book and petty cash book source documents petty cash book

Which among the following is an example of a voucher? 

  1. A bill

  2. An Invoice

  3. A Receipt

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Any documentary evidence supporting the entries recorded in the books of accounts, establishing the arithmetic accuracy of the transaction, may also be referred to as a voucher for example, a bill, invoice, receipt, salary and wages sheet.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

REPO is?

  1. Repurchase agreement

  2. Reliance Petroleum

  3. Read and Process

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A repurchase agreement, or repo for short, is a type of short-term loan much used in the money markets, whereby the seller of a security agrees to buy it back at a specified price and time. The seller pays an interest rate, called the repo rate, when buying back the securities.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

The total number of Stock Exchanges in India is:

  1. $21$
  2. $20$
  3. $23$
  4. $22$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

There are a total of 21 stock exchanges in India, with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) being the largest. Both offer stocks with volume and opportunity as India and the exchanges continue to grow and attract foreign investment.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

The Reserve Bank of India changes the cash reserve ratio from time.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Reserve Bank of India changes the cash reserve ratio from time- this is a true statement. Cash reserve ration is one of the quantitative methods of controlling credit creation capacity of the commercial bank. During inflation, Cash reserve ration is raise in order to reduce the money supply in an economy to check inflation and vice-versa.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

Paid dividends to common stockholders Rs 67, 600, 000 and common shares outstanding 55, 000, 000 then dividend per share will be _________.

  1. Rs 1.23

  2. Rs 0.81

  3. Rs 2.12

  4. Rs 2.78
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Dividend per share is calculated by dividing total dividends paid by the number of common shares outstanding. Here, 67,600,000 / 55,000,000 equals approximately 1.229, which rounds to 1.23.

Multiple choice business organisation introduction to financial markets concept of financial market meaning and definition of financial market concepts and functions of financial markets

A cheque is dishonored by______.

  1. non payment only.

  2. partial payment.

  3. both a & b.

  4. none of the above.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A cheque is dishonored by both non payment as well as partial payment. A cheque gets dishonored when the bank fails to pay the mentioned amount to payee. When the cheque deposited by anybody for collection or presented for payment gets refused by the bank, it is known as dishonor of cheque.