FAC1501 ASSIGNMENT 3 SEMESTER 1 2025 WITH CORRECT DETAILED ANSWERS A+FAC1501 ASSIGNMENT 3 SEMESTER 1 2025 WITH CORRECT DETAILED ANSWERS A+

FAC1501 ASSIGNMENT 3 SEMESTER 1
2025 WITH CORRECT DETAILED
ANSWERS A+




External Source Documents also know as- - ANSWER-
Supporting Documents

External Source Documents are prepared by... - ANSWER-the
other party and received as proof of payment.

External Source Documents are usually - ANSWER-originals

Original Cash Purchases Invoices (Internal/External Source
Document) - ANSWER-External Source Documents

Original Slips (Internal/External Source Document) - ANSWER-
External Source Documents

Cheques (Internal/External Source Document) - ANSWER-
External Source Documents

Cash Slips (Internal/External Source Document) - ANSWER-
External Source Documents

, Source Document - ANSWER-Proof that a transaction occurred

Cash Transactions effect? - ANSWER-Bank Account, Petty Cash
and or Cash Float

Business Transaction - ANSWER-a record of a large number of
transactions an entity is engaged in .

Business Document Details - ANSWER-Date, amount, type of
transaction and with whom

Internal source document - ANSWER-documents prepared by
an entity to record transactions with external clients.

Source documents are drawn up in... - ANSWER-Duplicates

(Internal Source Document) ... is given to the clients and ... is
kept by the entity. - ANSWER-Original - Diplicate

Cash Register Roll (Internal/External Source Document) -
ANSWER-Internal Source Document

Duplicate Cash Sales Invoice (Internal/External Source
Document) - ANSWER-Internal Source Document

Duplicate Reciepts (Internal/External Source Document) -
ANSWER-Internal Source Document

Cheque Counterfoils (Internal/External Source Document) -
ANSWER-Internal Source Document

Petty Cash Vouchers (Internal/External Source Document) -
ANSWER-Internal Source Document