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A. identification of the documentary evidence supporting the transaction.B. verification of the document supporting the transaction.C. authentication of the document supporting the transaction.D. verification of accuracy and authenticity of the transaction.
The correct option is (B).
Vouching is a tool, a technique of test of details of transactions in which the auditor inspects the vouchers, related documents to verify that the transactions have been well supported by the documents.
Answer option (b) >>>>>>>>>>>>>>>>>>>> verification of the document supporting the transaction.
verification of the document supporting the transaction is correct
Answer (B) verification of the document supporting the transaction.
D. verification of accuracy and authenticity of the transaction.
D..............................
Vouching is the examination of documents supporting to a transaction, vouching starts with verification and the result will be accuracy of transactions. :combination of B & D.
Vouching is a technical term, which refers to the inspection of documentary evidence supporting and substantiating a transaction, by an auditor. It is the essence of Auditing
Vouching can be described as the essence or backbone of auditing. The success of an audit depends on the thoroughness with which vouching is done. After entering in all vouchers, only then can auditing start. Vouching is defined as the "verification of entries in the books of account by examination of documentary evidence or vouchers, such as invoices, debit and credit notes, statements, receipts, etc
>>>>>>>>>B. Verification of document supporting the transaction<<<<
Vouching is a terms used to ensure that the accounts does not reflect any material misstatements, it is a method used to collect audit/supporting evidence.
The point in question is just a transaction and not many transactions as for many transactions vouching would be sampled out, to form an opinion out of total population.
The purpose of vouching is to verify all documents supporting the transaction contains accurate information and is signed by an authorized person.
option B would be correct answer in general for many transactions but option D provides you specifically what is done during vouching a transaction.
