Bank charges are vouched on the basis of

Answers 1

What is meant by Vouching

Vouching is a process of checking the vouchers related to the transactions recorded in the books of accounts.

Vouching is the essence of the Auditing. The object of vouching is to Gain assurance regarding the existence assertion.

Vouching tracks a result backward to the originating event, ensuring that a recorded amount is properly supported.

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