Source Documents Level 1

Question 1

A document to acknowledge receipt of money.

Answer 1

Receipt

Question 2

A document prepared by the accountant to seek owner’s or manager’s approval for payment to be made.

Answer 2

Payment voucher

Question 3

A document prepared by the bank to inform the business of the inflows and outflows pertaining to the business bank account.

Answer 3

Bank statement

Question 4

A document prepared by the seller to inform the buyer of the amount owed from the sale/purchase of goods.

Answer 4

Invoice

Question 5

A document prepare by the seller to inform the buyer of the undercharge in an earlier invoice.

Answer 5

Debit note

Question 6

A document prepared by the seller to inform the buyer of the amount overcharged in an earlier invoice.

Answer 6

Credit note

Question 7

A document prepared by the seller to inform the buyer of the amount to be deducted from the buyer’s account as a result of returns of goods.

Answer 7

Credit note