Which Of The Following Would Be Considered A Source Document In An Accounting System? (Check All That Apply.)
The correct options of this multiple choice question (mcq) are A, B, C and D as a Source Document is used to support Business Transactions and issued in order to enter the business events into the accounting system and all of these are examples of source documents. A. Checks A check / cheque is issued as a proof of payment made to a payee (named on it) by bank. There is a written order to the bank to pay the amount of check to the person named on it or to the bearer of the check. A check is a legal document and can be served as an evidence of business transaction. B. Payroll Records It shows the payroll records of employees and workers to whom the salaries and wages paid for the past periods. It shows compensation made to them by the company against the work performed or task completed. C. Purchase Order (PO) It is issued by the buyer to the seller that the purchase order is made. It contains the details of goods or services ordered. This purchase order is used as an evidence ...