Business Documents — Practice Questions

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Question 1

Which document is issued for a credit sale?

Accepted Answer

Invoice — A credit sale is documented by an invoice.

Question 2

Which document is issued when goods are returned?

Accepted Answer

Credit note — Returns are documented by a credit note.

Question 3

Which document proves that cash was received?

Accepted Answer

Receipt — A receipt proves cash received.

Question 4

A summary of what a customer owes over a period is a:

Accepted Answer

statement of account — A statement of account summarises amounts owed.

Question 5

Business documents are the ___ of the accounting entries.

Accepted Answer

source — They are the source of the entries.

Question 6

A document used to pay a supplier is a:

Accepted Answer

cheque — A cheque is used for payment.