The correct answer is: A. True and fair.
Vouchering is the process of verifying the accuracy and validity of financial transactions by tracing them back to the original source documents. This helps auditors to ensure that the entries in the books are true and fair, which is the basic objective of auditing.
Option B is incorrect because it is not enough for the entries in the books to be only true. They must also be fair. This means that they must present a true and fair view of the company’s financial position and performance.
Option C is incorrect because it is not enough for the entries in the books to be only fair. They must also be true. This means that they must accurately reflect the company’s financial transactions.
Option D is incorrect because it is not a valid option.