Which one of the following consists of comparing entries in the books of account with documentary…
Vouching is the core auditing procedure that consists of examining and comparing entries recorded in the books of original entry and ledgers with supporting documentary…
Choose your answer
Which one of the following consists of comparing entries in the books of account with documentary evidence in support thereof.
Answer and explanation
Correct answer C
Vouching is the core auditing procedure that consists of examining and comparing entries recorded in the books of original entry and ledgers with supporting documentary evidence (such as invoices, receipts, debit/credit notes, and contracts) to verify the authenticity, authority, and accuracy of transactions.
Practice for these exams
-
UGC NET Commerce