The source document for all cash payments is a check


Asked by admin @ in Business viewed by 243 People


5. The source document for all cash payments is a sales invoice. (P. 60)
true or false

Answered by admin @



Answer:

false

Explanation:

A sales invoice is an accounting document addressed to a client informing them of the amount they should pay for the goods or services provided. It details the services or products provided, the date, name of the client, the amount due, among other details. The invoice does not keep information on cash payments.

The check is the document that contains information on cash payments. The checkbook will retain details of all payments, such as amount, payee, and payment date. This data is useful in cash reconciliations.


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