Recent

  • Show all results for ""

🎧 New: AI-Generated Podcasts Turn your study notes into engaging audio conversations. Learn more

Credit Note, Debit Note, and Delivery Note Quiz
18 Questions
0 Views

Credit Note, Debit Note, and Delivery Note Quiz

Created by
@WellEstablishedWisdom

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the purpose of a credit note?

  • Request payment from a supplier
  • Request payment from a customer
  • Acknowledge that the amount owed is being reduced for sales returns/purchase returns (correct)
  • Acknowledge that the amount owed is being increased for sales returns/purchase returns

    • When is a debit note issued?

  • By a supplier to acknowledge receipt of payment
  • By a customer to request payment for goods purchased
  • By a supplier to request payment for goods sold
  • By a customer to request a credit note for goods returned (correct)

    • What is the purpose of a delivery note?

  • Request payment from a customer
  • Acknowledge delivery of goods (correct)
  • Issue a refund for faulty goods
  • Request payment for goods returned

    • What does a petty cash voucher provide details of?

    <p>Money paid out from petty cash and reasons for the expense</p> Signup and view all the answers

    When does a quotation become a purchase order?

    <p>When signed and accepted by the customer</p> Signup and view all the answers

    What information does a remittance advice document include?

    <p>Items/invoices being paid with the payment sent</p> Signup and view all the answers

    A credit note is issued by a customer to request a debit note from a supplier.

    <p>False</p> Signup and view all the answers

    A delivery note is typically signed by the supplier and retained by the customer.

    <p>False</p> Signup and view all the answers

    A petty cash voucher provides details of money received into petty cash.

    <p>False</p> Signup and view all the answers

    A quotation becomes a purchase order once it has been signed and accepted by the seller.

    <p>False</p> Signup and view all the answers

    A remittance advice is sent without any payment to the supplier.

    <p>False</p> Signup and view all the answers

    A sales order form is typically produced by the customer.

    <p>False</p> Signup and view all the answers

    Match the following documents with their respective purposes:

    <p>Credit note = Reduces amount owed for sales returns/purchase returns Debit note = Requests a credit note for faulty goods returned Delivery note = Sent with items delivered to a customer Purchase invoice = Request for payment from a supplier, giving delivery details</p> Signup and view all the answers

    Match the following documents with their descriptions:

    <p>Petty cash voucher = Details of money paid out from petty cash and reasons for expense Quotation = Sent to potential customer quoting price for goods or service Sales invoice = Request to credit customer for payment, giving item details Sales order form = Order from a customer on a form produced by the seller</p> Signup and view all the answers

    Match the following documents with their recipients:

    <p>Delivery note = One copy retained by customer and one copy signed by customer Remittance advice = Sent with payment, listing items/invoices being paid Purchase order = Order from a customer on form produced by the customer Receipt = Written statement of amount of money paid/received</p> Signup and view all the answers

    Match the following documents with their related actions:

    <p>Quotation = Becomes purchase order if signed and accepted by the customer Purchase order = Form or document produced by the customer as an order Receipt = Statement of money that has been paid/received Remittance advice = Sent with payment, listing items/invoices being paid</p> Signup and view all the answers

    Match the following documents with their related financial transactions:

    <p>Credit note = Reduces amount owed for sales returns/purchase returns Debit note = Document raised by a customer to request credit note for returned goods Purchase invoice = Request for payment from supplier, giving details of items delivered Sales invoice = Request to credit customer for payment, giving details of items sold</p> Signup and view all the answers

    Match the following documents with their functions in business transactions:

    <p>Petty cash voucher = Provides details of money paid out and reasons for expenses Delivery note = Sent with items delivered to customer to acknowledge receipt Sales order form = Customer's order on a form produced by the seller Purchase order = Order from a customer on a form produced by the customer</p> Signup and view all the answers

    More Quizzes Like This

    Flipkart Credit Note Information
    16 questions

    Flipkart Credit Note Information U51109KA2012PTC066107 Quiz and Flashc...

    CoherentVision avatar
    CoherentVision
    Personal Finance Chapter 4: Credit Score & Bureaus
    20 questions

    Personal Finance Chapter 4: Credit Score & Bureaus

    SpellboundEllipsis avatar
    SpellboundEllipsis
    Understanding Credit Scores and Lending Practices
    37 questions

    Understanding Credit Scores and Lending Practices

    PromisingStonehenge avatar
    PromisingStonehenge
    Credit and Loans Flashcards
    16 questions

    Credit and Loans Flashcards

    LoyalLanthanum avatar
    LoyalLanthanum
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser