hat is the correct source documents for owner of business X took goods from the business for his own use. option: a) invoice issued by business X . b) Receipts issued by business X. c) Bank credit advice. d) internal memo. e) cash sales slip. f) Cheque butt . h) credit note issued by business X. reqiured: please answer this question by choosing the right source document.
hat is the correct source documents for owner of business X took goods from the business for his own use. option: a) invoice issued by business X . b) Receipts issued by business X. c) Bank credit advice. d) internal memo. e) cash sales slip. f) Cheque butt . h) credit note issued by business X. reqiured: please answer this question by choosing the right source document.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question:
1. what is the correct source documents for owner of business X took goods from the business for his own use.
option:
a) invoice issued by business X .
b) Receipts issued by business X.
c) Bank credit advice.
d) internal memo.
e) cash sales slip.
f) Cheque butt .
h) credit note issued by business X.
reqiured:
please answer this question by choosing the right source document.
Expert Solution
Step 1
Source Document -
Source documents act as an audit trail and are a crucial audit tool. Government agencies, lenders, and other interested parties frequently examine the companies. Accounting professionals who have access to the original documents have found it quite simple and comfortable to explain any suspicious transaction.
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