3.1 Name the source document that is provided for the following transactions:
3.1.1 When goods are sold on credit
3.1.2 Proof of a deposit made into the bank account
3.1.3 To acknowledge that money has been received by the business
3.1.4 Consumables bought for cash at an agricultural convenient store
- NSC Agricultural Management Practices - Question 3 - 2018 - Paper 1
Question 3
3.1 Name the source document that is provided for the following transactions:
3.1.1 When goods are sold on credit
3.1.2 Proof of a deposit made into the bank accoun... show full transcript
Worked Solution & Example Answer:3.1 Name the source document that is provided for the following transactions:
3.1.1 When goods are sold on credit
3.1.2 Proof of a deposit made into the bank account
3.1.3 To acknowledge that money has been received by the business
3.1.4 Consumables bought for cash at an agricultural convenient store
- NSC Agricultural Management Practices - Question 3 - 2018 - Paper 1
Step 1
When goods are sold on credit
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The source document provided when goods are sold on credit is an invoice.
Step 2
Proof of a deposit made into the bank account
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The source document for proof of a deposit made into the bank account is a deposit slip.
Step 3
To acknowledge that money has been received by the business
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The source document used to acknowledge that money has been received by the business is a receipt.
Step 4
Consumables bought for cash at an agricultural convenient store
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The source document for consumables bought for cash at an agricultural convenient store is a cash slip/till slip.
