Documents prepared immediately after a transaction takes place is called

• first document

• source document

• open document

• transaction

Sandra bought some snacks from Genesis and paid with his Debit/ATM card. This type of transaction is a

• cash transaction

• credit transaction

• card transaction

• consumer transaction

An invoice should be prepared for a customer when

• the customer requests for it.

• goods are sold.

• the office is ready.

• an enquiry is made.

The current account holder who issues a cheque is known as the

• payee

• drawee

• drawer

• issuer

Documents that provide first-hand information on transactions are called

• open documents

• source documents

• transaction documents

• consumer documents

A cheque has

• three parties

• two parties

• four parties

• five parties

Statement of accounts are sent from the

• buyer to the seller

• buyer to the buyer

• seller to seller

• seller to buyer

A staff who wishes to obtain authorization for payment will present

• Invoice

• cheque

• voucher

• receipt

Which of these documents records the quantity and cost of items bought or sold?

• Teller

• Invoice

• Cheque

• Letter of enquiry

The two types of transactions are

• cash and credit transaction

• cash and card transaction

• credit and card transaction

• cash and online transaction