3 Questions
What is the purpose of the system of double entry bookkeeping?
To record transactions in the books of account of a business.
Why is it important to use source documents in double entry bookkeeping?
To ensure the accuracy and reliability of the recorded transactions.
What is the source of information for every item entered into the books of account?
Source documents like invoices, credit notes, cheque book stubs, and paying in books.
Test your knowledge on the source documents used in double entry bookkeeping to record transactions in business accounts. Identify which documents provide the necessary information for each item entered in the books of account.
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