3N1 POA Source Documents & Journals Revision

Kuang, a supplier, has undercharged his customer by $20. The document issued by Kuang is a ____________.

• invoice

• credit note

• debit note

• receipt

Tom returned some faulty goods bought on credit from Jim. The document he will receive is a________________.

• debit note

• payment voucher

• invoice

• credit note

Chia wishes to check the amount of bank deposits the business has made in a month. The document checked is a _________________.

• remittance advice

• payment voucher

• bank statement

• memo

Tan records transactions based on reliable and verifiable information. This is in accordance with the _____________concept.

• monetary

• historical cost

• prudence

• objectivity

Kee records business payments made by cash or cheque using an internal document. The document is a_________________.

• remittance advice

• payment voucher

• memo

• bank statement

Bill sold an old computer from the business and received $300 cash. The document he issued is a _____________.

• receipt

• payment voucher

• invoice

• remittance advice

Source documents are usually _______________ by buyer and ______________ by seller

• issued; received

• received; issued

• issued; sent

• sent; issued

Cheng sent a document attached to a cheque payment to his supplier. The document is a______________.

• payment voucher

• bank statement

• receipt

• remittance advice