FAC1501 QUESTIONS AND CORRECT
DETAILED ANSWERS LATEST EDITION.
Source Document - ANS -Proof that a transaction occurred
Cash Transactions effect? - ANS -Bank Account, Petty Cash and or Cash Float
Business Transaction - ANS -a record of a large number of transactions an entity is engaged in .
Business Document Details - ANS -Date, amount, type of transaction and with whom
Internal source document - ANS -documents prepared by an entity to record transactions with
external clients.
Source documents are drawn up in... - ANS -Duplicates
(Internal Source Document) ... is given to the clients and ... is kept by the entity. - ANS -Original -
Diplicate
Cash Register Roll (Internal/External Source Document) - ANS -Internal Source Document
Duplicate Cash Sales Invoice (Internal/External Source Document) - ANS -Internal Source
Document
Duplicate Reciepts (Internal/External Source Document) - ANS -Internal Source Document
, Cheque Counterfoils (Internal/External Source Document) - ANS -Internal Source Document
Petty Cash Vouchers (Internal/External Source Document) - ANS -Internal Source Document
Duplicate Bank Deposit Slips (Internal/External Source Document) - ANS -Internal Source
Document
Internet Banking: Notice of Payment (Internal/External Source Document) - ANS -Internal
Source Document
Signed Credit Card Slip (Internal/External Source Document) - ANS -Internal Source Document
External Source Documents also know as- - ANS -Supporting Documents
External Source Documents are prepared by... - ANS -the other party and received as proof of
payment.
External Source Documents are usually - ANS -originals
Original Cash Purchases Invoices (Internal/External Source Document) - ANS -External Source
Documents
Original Slips (Internal/External Source Document) - ANS -External Source Documents
Cheques (Internal/External Source Document) - ANS -External Source Documents
Cash Slips (Internal/External Source Document) - ANS -External Source Documents
DETAILED ANSWERS LATEST EDITION.
Source Document - ANS -Proof that a transaction occurred
Cash Transactions effect? - ANS -Bank Account, Petty Cash and or Cash Float
Business Transaction - ANS -a record of a large number of transactions an entity is engaged in .
Business Document Details - ANS -Date, amount, type of transaction and with whom
Internal source document - ANS -documents prepared by an entity to record transactions with
external clients.
Source documents are drawn up in... - ANS -Duplicates
(Internal Source Document) ... is given to the clients and ... is kept by the entity. - ANS -Original -
Diplicate
Cash Register Roll (Internal/External Source Document) - ANS -Internal Source Document
Duplicate Cash Sales Invoice (Internal/External Source Document) - ANS -Internal Source
Document
Duplicate Reciepts (Internal/External Source Document) - ANS -Internal Source Document
, Cheque Counterfoils (Internal/External Source Document) - ANS -Internal Source Document
Petty Cash Vouchers (Internal/External Source Document) - ANS -Internal Source Document
Duplicate Bank Deposit Slips (Internal/External Source Document) - ANS -Internal Source
Document
Internet Banking: Notice of Payment (Internal/External Source Document) - ANS -Internal
Source Document
Signed Credit Card Slip (Internal/External Source Document) - ANS -Internal Source Document
External Source Documents also know as- - ANS -Supporting Documents
External Source Documents are prepared by... - ANS -the other party and received as proof of
payment.
External Source Documents are usually - ANS -originals
Original Cash Purchases Invoices (Internal/External Source Document) - ANS -External Source
Documents
Original Slips (Internal/External Source Document) - ANS -External Source Documents
Cheques (Internal/External Source Document) - ANS -External Source Documents
Cash Slips (Internal/External Source Document) - ANS -External Source Documents
