Asked by Adrieanna Davis-Coco on Jul 20, 2024
Verified
A voucher register could contain which of the following columns?
A) Credit to purchases account
B) Credit to sundry account
C) Debit to sundry account
D) Both B and C.
Voucher Register
A record keeping system that tracks the issuance, payment, and cancellation of vouchers, detailing financial transactions such as payments made or received.
Sundry Account
An account used to record minor or infrequent transactions not fitting into other specific account categories.
- Ascertain the critical records and processes integral to a voucher system.
- Understand the procedures for recording and approval in a voucher system as well as the creation of associated journal entries.
Verified Answer
LJ
Lorie JacksonJul 23, 2024
Final Answer :
D
Explanation :
A voucher register, used in accounting to record all vouchers issued, can include various columns for recording transactions. It typically includes columns for both credits and debits to various accounts, including sundry accounts, which are miscellaneous accounts for transactions that don't fit into the usual categories. Therefore, it can contain columns for both "Credit to sundry account" and "Debit to sundry account."
Learning Objectives
- Ascertain the critical records and processes integral to a voucher system.
- Understand the procedures for recording and approval in a voucher system as well as the creation of associated journal entries.
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