Match Each Term with Its Definition

question 31

Multiple Choice

Match each term with its definition.
-Fund used when small payments are required

• A)accounts payable
• B)expenditure
• C)invoice
• D)PDF
• E)fees
• F)petty cash
• G)accounting
• H)bookkeeping
• I)operating information
• J)managerial accounting information

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Definitions:

Net Method

An accounting technique that reports invoice amounts and accounts payable after deducting any available discounts for early payment.

Cash Discount

A reduction in the price paid for goods or services offered to the buyer as an incentive for early payment.

Original Voucher

A document that serves as evidence for a transaction and supports entries made in the accounting records.

Original Voucher

A primary document used as a piece of evidence for a transaction that has occurred, supporting entries in an accounting system.