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WorksheetsSource Documents
Total questions: 15
Worksheet time: 9mins
From the options below, kindly pick the types of source documents.
Vouchers
Invoices, receipts, bank statements, purchase orders, delivery notes
Balance sheets
Tax returns
Explain the importance of source documents.
Source documents are important because they provide evidence of transactions, help verify financial records, track the flow of money, and ensure compliance with regulations.
Source documents are only needed for tax purposes and have no other significance.
Source documents are only used for personal record-keeping and have no impact on business finances.
Source documents are irrelevant and unnecessary for financial transactions.
Provide an example of a source document.
A recipe for a homemade cake.
An invoice for the purchase of office supplies.
A map of a hiking trail.
A personal diary entry.
State the source document:
Undercharged a credit customer for goods sold
Invoice
Credit Note
Receipt
Debit Note
Accounting source documents normally issued to acknowledge that money has been received by one party from another. It will typically show particulars of the money received, including the parties to the transaction, the date, and the amount of money.
Paying-in slip
Statement
Receipt
Credit Note
A written order to a bank authorizing the bank to pay an amount of money to the person named on it.
Cheque
Receipt
Paying-in slip
Payment Voucher
A source document is
Where transactions are recorded after recording into the prime entry books
Where transactions are recorded at last
Not an evidence to prove that the transaction occured
The origin of the information that is recorded into the accounting books
From the following which is not a source document
receipt
sales day book
cheque
Credo note
Araoluwa sold an old computer from the business and received 300 naira cash. The document she will issue will be ____________.
receipt
payment voucher
invoice
remittance advice
Humble David, a supplier, has undercharged his customer by $20. The document issued by Humble David will be a ____________.
invoice
credit note
debit note
receipt
An evidence of payment for goods or services is _______
Cash book
Credit note
Invoice
Receipt
All these are parties to a cheque except
Drawee
Drawer
Cashier
Payee
A paper instructing the bank to pay a specific amount from the person’s account to the person in whose name the paper has been made is called a _________________________
Cheque
Lender
Borrower
The drawer is
the bank on which the cheque is drawn
the person to whom the cheque is payable
the person who signs the cheque and orders payment
the person who is ordered to pay the amount on the cheque
How many parties are there in a cheque?
1
2
3
4
