Question

What is vouching? Give its importance and objectives.​

Answer 1

Answer:

Objectives of Vouching

To check whether there are any fake or fraudulent transactions recorded in the books of accounts. To ensure that only business related transactions are entered in the books of accounts. ... To check if there is any alteration made in the voucher, it has been recorded or not.

Answer 2

Answer:

Objectives of Vouching

To check whether there are any fake or fraudulent transactions recorded in the books of accounts. To ensure that only business related transactions are entered in the books of accounts. To check no entries are missing or omitted from the books of accounts.