Source Documents

Question 1

Purchase invoice

Answer 1

They are received by the buyer for goods bought on credit

Question 2

Sales invoice

Answer 2

They are issued by the seller for goods sold on credit

Question 3

Invoice

Answer 3

It includes details of the goods supplied and the amount to be paid

Question 4

Credit note

Answer 4

They are issued to show that goods have been returned and that they do not need to be paid for; e.g. goods that are damaged or faulty

Question 5

Cash receipt

Answer 5

Records receipts of cash from the sales. The business keeps a copy

Question 6

Cheque counterfoil

Answer 6

The part of the cheque kept by the payer, showing the date of the cheque, the payee and the amount

Question 7

Till roll

Answer 7

Lists the amount sold and paid for during a specific day and the total value of cash sales during that day

Question 8

Paying in-slip counterfoil

Answer 8

The part of the paying in-book kept by the business after banking money, showing date and amount

Question 9

Bank statement

Answer 9

An independent check on the transactions in appearing into the bank account