FAC1501 Questions and Correct Verified Answers

Top Mark Questions and Correct Verified Answers



FAC1501 Questions and Correct Verified
Answers
Source Document


✓ Proof that a transaction occurred



Cash Transactions effect?


✓ Bank Account, Petty Cash and or Cash Float



Business Transaction


✓ a record of a large number of transactions an entity is engaged in .



Business Document Details


✓ Date, amount, type of transaction and with whom



Internal source document


✓ documents prepared by an entity to record transactions with external clients.



Source documents are drawn up in...


✓ Duplicates



(Internal Source Document) ... is given to the clients and ... is kept by the entity.




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, Top Mark Questions and Correct Verified Answers

✓ Original - Diplicate



Cash Register Roll (Internal/External Source Document)


✓ Internal Source Document



Duplicate Cash Sales Invoice (Internal/External Source Document)


✓ Internal Source Document



Duplicate Reciepts (Internal/External Source Document)


✓ Internal Source Document



Cheque Counterfoils (Internal/External Source Document)


✓ Internal Source Document



Petty Cash Vouchers (Internal/External Source Document)


✓ Internal Source Document



Duplicate Bank Deposit Slips (Internal/External Source Document)


✓ Internal Source Document



Internet Banking: Notice of Payment (Internal/External Source Document)


✓ Internal Source Document




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