Business Documents

A debit note is issued by the buyer to the seller when:

• Goods are returned to the seller due to defects

• Payment for goods has been made

• Goods are delivered to the buyer

• Goods are ordered from the seller

What is the main purpose of a credit note?

• To confirm payment of an invoice

• To request payment for goods delivered

• To acknowledge an order received

• To reduce the amount payable by the buyer

Which document serves as proof that payment has been made by the buyer to the seller?

• Quotation

• Receipt

• Invoice

• Credit note

What does a statement of account typically show?

• A single invoice for goods sold

• A summary of all goods returned by the buyer

• The details of all transactions between the buyer and the seller over a period

• The delivery schedule for goods ordered

Which document might a buyer issue if they notice an error on an invoice?

• Delivery note

• Credit note

• Debit note

• Quotation

If a business sells goods worth $2,500 with a 5% trade discount on the invoice, what is the total amount the customer will pay?

• $2,500

• $2,375

• $2,650

• $2,450

A business receives a debit note from a supplier for damaged goods worth $300. If the original invoice amount was $1,200, what is the new total amount payable after the debit note?

• $1,200

• $900

• $1,500

• $1,800

A _______ is a written order to a bank to pay a stated sum of money to the person or business named on

the order.

• Invoice

• Debit Note

• Credit Note

• Cheque

• $148

• $386

• $498

• $610

Click the image

• $4056

• $4,160

• $5,070

• $5,200