Observation

Few of the candidates demonstrated good understanding of the question while majority exhibited poor performance by mistaking payment voucher for receipt and inability to differentiate between subsidiary books of accounts and source documents.

Some of the suggested answers are:
1. (a)    A payment voucher is an authorizing document used as written evidence of
payment for transactions.
OR
It is an authorizing document which serves as the cover page for expenses
(goods bought or services enjoyed) which are credited to the cash book.

            (b)       Subsidiary books of accounts and their uses:
(i)         Sales Day Book/Sales Journal - it is used to record credit sales;
(ii)        Purchases Day Book/Purchases Journal - it is used to record credit
purchases;
(iii)       Return Inwards Book/Sales Returns Journal- it is used to record goods
returned by customers/debtors;
(iv)       Return Outwards Book/ Returned outward Journal- it is used to record
goods returned to suppliers/creditors;
(v)        Cash Book- It is used to record all receipts (cash and cheque);
It is used to record all payments (cash and cheque);
It is used to record all cash transactions;
It is used to reconcile transactions between an organization and its bank.
(vi)       Petty Cash Book- this is used for recording minor cash expenses;
(vii)      General Journal/Journal Proper/Principal Journal- it is used for:
-correction of errors;
-recording opening entries;
-recording closing entries;
-recording sale of fixed assets on credit;
-recording purchase of fixed assets on credit;
-recording transfer of entries from one account to another.