How do you vouch the following (a) Custom duty paid on import of machinery. (b) Income from
Question:
How do you vouch the following—
(a) Custom duty paid on import of machinery.
(b) Income from House Property.
(c) Royalty Payable to a foreign collaborator.
(d) Travelling Expenses.
(e) Interest and Dividend Received.
(f) Directors’ fees paid.
(g) Preliminary Expenses.
(h) Insurance Premium paid.
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Vouching means verifying the authenticity of the transactions recorded in the books of accounts This is performed by the auditor who checks transactio...View the full answer
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