Which of the following are related to vouching of sales? I. Dispatch of goods II. Sales book III.…
While vouching credit sales, an auditor verifies entries recorded in the Sales Book (II) against primary documentary evidence including customer orders, copies of sales…
Choose your answer
Which of the following are related to vouching of sales?
I. Dispatch of goods
II. Sales book
III. Direct notes
IV. Credit notes
Answer and explanation
Correct answer C
While vouching credit sales, an auditor verifies entries recorded in the Sales Book (II) against primary documentary evidence including customer orders, copies of sales invoices, and goods outward / dispatch notes (I). Credit notes (IV) relate to vouching sales returns rather than original sales.
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UGC NET Commerce