Theory of Accounts

1. A voucher system is used in connection with transactions that involve only

a. the receipt of cash
b. the payment of cash
c. the purchase and sale of merchandise
d. revenue and expense

2. It is the business paper which a company makes for every cash payment

a. check
b. voucher
c. journal
d. official receipt

3. all vouchers are recorded in numerical sequence in the

a. check register
b. voucher register
c. general journal
d. cash disbursements journal

4. After voucher are recorded, they are filed in an unpaid vouchers file

a. numerically
b. in the order of payment
c. chronologically
d. no regular order

5. Which of the following statements is not correct? A file of unpaid vouchers

a. may be used to replace the accounts payable subsidiary ledger
b. is controlled by the vouchers payable account in the general ledger
c. shows during the year the total amount of all recorded outstanding liabilities for goods and services
d. shows only the total amount of outstanding liabilities for merchandise purchased


Answer:
1b.
2.b
3.b
4.b
5.d