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1)how will you check the expenses?
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Answer / harsh aggarwal
It can be examined through the receipt of the
expences.Which is to be find in the purchase file of the
organisation .
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / pravin.kamble425@gmail.com
If you are making a audit of a Firm / Company, to check the
expenses, simplest way is
1)First you ask the accountant of the firm / Company to
show the P & L a/c &
2)Ask him to provide the cash book & bank book.
Because all the expneses are recorded in P & L account & to
cross check whether it paid or not we must refer the cash
book or bank book. Because when there is expenses that
meanse payment is there so either we can pay by cash or pay
by bank / cheque.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / srikanth reddy
all expenses check must in cash book only
| Is This Answer Correct ? | 13 Yes | 9 No |
Answer / karthik
First go to day book which contain all cash transaction and
cheque transaction. and take the bills file. correlate the
supporting documents with daybook
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / cma sandip sharma
Every Expense shall be cross verified with Bills/Cash memo
or Whatever the name with payment voucher (Signing authority
must be verified) & Cash/Bank Book Following Payment Method.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / binoy
First we should analyse the P&L a/c and vouch the expenses
with the correspondent voucher which will be also available
in cash & Bank book too
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / durgaprasad
It can be examined through bank book & cash book
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / ravi.harjai2009@gmail.com
The cash book is the main socuce for chacking the expense
which are payed durring the year and also that expense which
are not paid in previous year but paid in current year....
but some expense which are not chaecked by the cash book or
pass book of a orgnisation like eg.like outstanding expenses...
for chaecking the outstanding expense ....\
using the complience procedur or third party confermation,
it is more realiable to chaecking a outstanding expense......
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / rahul khandelwal
through the company books of entries and confirming the
entry through voucher and cash&bank book
| Is This Answer Correct ? | 2 Yes | 2 No |
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State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100
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Audit 
