Describe what source documents are and the purpose they serve in a business.
What will be an ideal response?
Source documents are the proof that transactions and events have occurred and should
be recorded in the accounting records. They provide objective and reliable evidence about
transactions and their amounts. Examples of source documents include checks, invoices, sales
receipts, credit card statements, and bank statements. They can be in hard copy or electronic
form.
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Which of the following statements is true about shareholders?
A) They are not entitled to a distribution of the dividend income. B) They have direct equity interest in the firms to which they fund resources. C) They have no rights to transfer their shares to other investors. D) They emphasize corporate responsibility over financial profitability.
Tiffany & Co. manufactures about half of the fine jewelry items for sale in its stores and boutiques worldwide. Tiffany & Co. practices
A. horizontal integration. B. cooperative integration. C. joint venturing. D. vertical integration. E. backward integration.
The "30-day rule" affects direct marketers who are out-of-stock or who plan to order goods after they are purchased by consumers
Indicate whether the statement is true or false
In a shout call option the strike price is $30 . The holder shouts when the asset price is $40 . What is the payoff from the option if the final asset price is $35?
A. $0 B. $5 C. $10 D. $15