Source Documents (Identify the source document used)

Source Documents (Identify the source document used)

1st Grade

26 Qs

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Source Documents (Identify the source document used)

Source Documents (Identify the source document used)

Assessment

Quiz

Business

1st Grade

Practice Problem

Medium

Created by

Chang Sze May

Used 4+ times

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26 questions

Show all answers

1.

DROPDOWN QUESTION

1 min • 1 pt

An invoice ​ ​ (a)   ​ credit customers of the amount owed after the business sold goods or provided services on ​ (b)   .

informs
credit
acknowledges
reminds
cash

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alan Trading buys and sells fruits.

The following transaction or activity took place in Alan Trading.

State the source document that Alan Trading used to record the transaction or activity.

Bought fruits on credit.

Invoice

Debit Note

Answer explanation

Alan Trading will receive invoice from the supplier when it purchases goods on credit.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alan Trading buys and sells fruits. The following transaction/ activity took place in Alan Trading. State the source document that Alan Trading used to record the transaction/ activity.

Bought delivery van ON CREDIT.

Credit note

Invoice

Answer explanation

When business buys on credit, the business will receive an invoice from the supplier. This includes the purchase of inventory and other items such as motor vehicles.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alan Trading buys and sells fruits.

The following transaction/ activity took place in Alan Trading.

State the source document that Alan Trading used to record the transaction/ activity.

Sold fruits ON CREDIT.

Receipt

Invoice

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alan Trading buys and sells fruits.

The following transaction/ activity took place in Alan Trading.

State the source document that Alan Trading used to record the transaction/ activity.

Bought fruits ON CREDIT.

Debit Note

Credit Note

Receipt

Invoice

6.

DRAG AND DROP QUESTION

1 min • 1 pt

A debit note ​ (a)   the amount owed by ​ (b)   customers who were previously ​ (c)   .

increases
credit
undercharged

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Alan Trading buys and sells fruits.

The following transaction/ activity took place in Alan Trading.

State the source document that Alan Trading used to record the transaction/ activity.

INCREASE amount owing by credit customer due to earlier undercharge.

Debit Note

Invoice

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