[Solved] Vouching implies

Vouching implies

a) Inspection of receipts

b) Examination of vouchers to check authenticity of records

c) Surprise checking of accounting records

d) Examining the various assets

Answer: (b) Vouching implies the examination of vouchers to check the authenticity of records. Vouching is defined as the “verification of entries in the books of account by examination of documentary evidence or vouchers, such as invoices, debit and credit notes, statements, receipts, etc.

More MCQ and Answers on Auditing

  1. Management audit means
  2. Systems audit implies
  3. Internal audit means
  4. Internal audit is
  5. Detection of errors and fraud in audit is  
  6. Internal auditor is appointed and removed by the  
  7. The object of internal check is to
  8. Effective internal check system reduces
  9. Internal check is a part of
  10. The objective of internal audit is